Japan's economy rebounded at a slower | 22 Agustus 2022

22 Agustus 2022, USD/JPY

Japan's economy rebounded at a slower

USDJPY trading plan:

Japan's core consumer inflation accelerated in July to its fastest in seven-and-a-half years, driven by fuel and raw material prices and adding to the costs of living for households yet to see significant wage gains. While inflation exceeded its 2% target for four straight months, the Bank of Japan is likely to remain an outlier in keeping monetary conditions ultra-loose with price rises still modest compared with other major economies. While the core index is still the BOJ's key price gauge, the central bank has recently placed more emphasis on the core-core index to gauge how much of the inflationary pressure is coming from domestic demand, rather than one-off factors like energy costs. Japan's economy rebounded at a slower-than-expected pace in the second quarter from a COVID-induced slump, highlighting uncertainty on whether consumption will grow enough to bolster a much-delayed, fragile recovery.

Investment idea: buy 136.50 and take profit 137.00.

David Johnson
Analyst of «FreshForex» company
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