09 Tháng Năm 2022, USD/JPY
USDJPY trading plan:
The cost of living in Tokyo rose at the fastest pace in almost three decades in April, as the impact of soaring energy prices became clearer, an outcome that complicates the Bank of Japan’s messaging on inflation and the need for continued stimulus. Consumer prices excluding fresh food in the capital climbed 1.9% from a year ago, according to the ministry of internal affairs. While Tokyo’s inflation, a leading indicator of the national price trend, is finally approaching the 2% level targeted by the BOJ, the April figures are unlikely to prompt the central bank to cut back its monetary easing. We see the BOJ sticking to its stimulus, even as other central banks unwind theirs. This is a negative signal for the Japanese currency.
Investment idea: buy 130.77 and take profit 131.32.
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