Kuroda has preached the merits of a weak yen

19 4月 2022, USD/JPY

USDJPY trading plan:

Bank of Japan Governor Haruhiko Kuroda said there was no change in his assessment that, overall, a week in was good for the economy since it boasts the value of profits Japanese firms earn overseas. Kuroda, however, repeated his view the BOJ must maintain its massive stimulus programme to support a fragile economic recovery. The yen has slid to two-decade lows against the dollar on prospects of widening U.S.-Japan interest rate differentials, with the BOJ seen maintaining ultra-low interest rates even as the Federal Reserve plans steady rate hikes. Kuroda has consistently preached the merits of a weak yen despite growing concern among lawmakers that sharper yen falls may hurt the economy by inflating already rising import costs for fuel and food.

Investment idea: buy 127.70 and take profit 128.22.

David Johnson
Analyst of «FreshForex» company
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