Forex Top Team

USDJPY fell to the 141.18 level at one point, and it was reported that the Bank of Japan would revise its price forecast for fiscal 2023 to around 2.5%.

The USD/JPY temporarily declined to around 141.18 levels in response to reports stating that the Bank of Japan is considering a significant upward revision of its 2023 price outlook to around 2.5%, compared to the previous projection of 1.8%. However, the outlook for 2024 and 2025 is expected to see only a slight revision to 2.0% and 1.6%, respectively, which means achieving the sustainable and stable 2% inflation target may not be foreseeable. Following the initial decline, there have been buybacks around the 141.35-40 levels, but the pair is facing selling pressure once again.

The Japanese yen is currently experiencing conflicting speculations, and it appears that the USD is facing selling pressure, leading to a USD selling perspective for today.

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