21 February 2022, USD/JPY
USDJPY trading plan:
Japan’s key inflation measure weakened last month in another sign that Japan’s price dynamics are at odds with a global trend. Growth in consumer prices excluding fresh food slowed to 0.2% in January from a year earlier, compared with 0.5% in the previous month. The BOJ chief has repeatedly reiterated his view that there is no need to discuss normalizing policy with prices still so distant from a 2% target. The central bank underlined its commitment to stick with its stimulus framework earlier this week when it offered to buy government bonds at a fixed rate to keep yields below a ceiling.
Investment idea: buy 114.72 and take profit 115.31.
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