17 May 2022, USD/JPY
USDJPY trading plan:
Japan's wholesale prices in April jumped 10% from the same month a year earlier, data showed. Unlike other central banks worried about surging inflation, the Bank of Japan has kept its ultra-easy monetary policy in place on the view that the cost-push rise in inflation is not bringing long-term price expectations to its 2% target. Japanese firms have been slow in passing on rising cost to households as soft wage growth does little to help consumer sentiment and makes them cautious about scaring off consumers with price hikes. Data on Friday is expected to show Japan's core consumer price index, which excludes volatile fresh food costs but includes energy costs, rose 2.1% in April from a year earlier.
Investment idea: buy 128.98 and take profit 129.54.
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