18 Oktober 2023, USD/JPY
USDJPY trading plan:
The Bank of Japan is expected to raise its inflation forecasts this month to show prices exceeding its 2% target for two straight years, three people familiar with the matter said, complicating its efforts to keep monetary policy accommodative. In fresh quarterly growth and inflation forecasts due at its two-day policy meeting ending on Oct. 31, the BOJ is set to raise its core consumer inflation forecast for the year ending in March 2024 to near 3% from the current 2.5% projection made in July. It would additionally raise pressure on the BOJ to lift its 1.0% cap on the 10-year government bond yield set just three months ago, an option some in the central bank do not rule out as a possibility.
Investment idea: range 149.10 -150.10.