BoJ’s Wakatabe: Inflation target is important
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The Bank of Japan’s deputy governor Masazumi Wakatabe has said the BoJ will continue to conduct monetary policy to achieve 2% inflation accompanied by wage growth.
The 4-hour chart sees USD/JPY below the trendline resistance and the bias is lower following the breakout of the geometrical structure.
If the bears get below the support structure near 128.30, then the outlook will remain bearish. However, if there is a bullish correction and a retest of the 129 area in a 38.2% Fibonacci, then should the bears move in, the focus will be on the 127.50s.
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