25 April 2022, USD/JPY
USDJPY trading plan:
The Japan core consumer price index, which excludes volatile fresh food prices but includes fuel and broader energy costs, jumped 0.8% in March from a year earlier, government data showed. The pace indicates the core CPI could near the Bank of Japan's 2% target in April as the impact of mobile phone fee cuts from that month last year fades from yearly comparisons. The price data will be among factors the BOJ will scrutinise at its next two-day rate review, which is scheduled to end on Thursday, where it is likely to raise its inflation forecast for this fiscal year to near 2%. Core consumer price inflation has posted a year-on-year increase every month since September. March's increase marked the fastest year-on-year rise since January 2020.
Investment idea: buy 127.80 and take profit 128.51.
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