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Negative forecasts of the Bank of Japan

Negative forecasts of the Bank of Japan | 27 April 2021

27 April 2021, USD/JPY

Negative forecasts of the Bank of Japan

USDJPY trading plan:

Japan's central bank maintained its massive stimulus on Tuesday and projected inflation missing its 2% target for years to come, as fresh curbs to combat a spike in COVID-19 cases overshadow the boost to growth from solid global demand. Japan last week declared a third, two-week state of emergency for Tokyo, Osaka and two other prefectures to contain the pandemic, clouding prospects for a fragile economic recovery. «Japan's economy is likely to recover, though the level of activity will be lower than before the spread of the pandemic mainly for sectors that offer face-to-face services, » the BOJ said in the report.

Investment idea: buy 108.02 and take profit 108.55.

David Johnson
Analyst of «FreshForex» company
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