EURJPY: Japanese yen suffers big loss due to doubts about Bank o
Updated
Asian trading volumes on Monday were slightly affected by the Japanese holiday. The yen rose 0.1% after falling to nearly 145 yen to the dollar on Friday.
The earthquake that hit central Japan also caused the Japanese currency to suffer its worst weekly decline since late 2022. Post-disaster economic stimulus and recovery measures could delay the Bank of Japan's plans to start tightening its ultra-easy monetary policy, which is expected to put strong pressure on the yen.
The current focus is on Tokyo's December CPI inflation data, which is often used as an indicator of national inflation in Japan.
Note
EURJPY BUY 157.40-157.50TP1: 157.70
TP2: 157.90
SL: 157.00
Note
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