Dollar yen USDJPY Forex forecast for today 20/06/2019
The Fed reported on the eve of its meeting on monetary policy, and now it was the turn of the Bank of Japan. Inflation in Japan is now at a level of 0.9%, which is 0.2% higher than a year earlier, but substantially less than the target value CBA, which is 2%. In the Asia-Pacific central banks begin to apply stimulus measures - such dynamics is observed in New Zealand, Australia and China.
In Japan, there is a problem that needs solving. For example, Japan's exports fell the sixth consecutive month amid tensions in global trade in May - an indicator fell by 7.8%. In my opinion, the Bank of Japan today would not rush to change the monetary policy, but said the need for new stimulus in the near future. This is a negative signal for the yen and positive for the Nikkei 225 index.
USD / JPY recommendation: Buy 107.20 / 107.00 and take profit 107.70