BOJ Ueda:Impact of past rises in import costs on Japanese inflation likely to dissipate
Impact of past rises in import costs on Japanese inflation likely to dissipateScheduled end to government energy subsidies likely to also likely to affect inflation aheadGiven annual wage talks outcome so far, trend inflation likely to gradually accelerateThe USDJPY after falling to support target between 150.718 and 150.888, has not seen a rebound back toward swing lows from March 28 and March 29 at 151.14.On the topside, it would still take a move above the 200 hour moving average at 151.428 and the 100 hour moving average at 151.57 to give buyers more confidence. However, holding against the old ceiling, is a more bullish development. This article was written by Greg Michalowski at www.forexlive.com.
- Impact of past rises in import costs on Japanese inflation likely to dissipate
- Scheduled end to government energy subsidies likely to also likely to affect inflation ahead
- Given annual wage talks outcome so far, trend inflation likely to gradually accelerate
The USDJPY after falling to support target between 150.718 and 150.888, has not seen a rebound back toward swing lows from March 28 and March 29 at 151.14.
On the topside, it would still take a move above the 200 hour moving average at 151.428 and the 100 hour moving average at 151.57 to give buyers more confidence. However, holding against the old ceiling, is a more bullish development. This article was written by Greg Michalowski at www.forexlive.com.
