In today's trading , the dollar / yen is losing ground after yesterday's rally. With the start of trading in Asia quotation USD / JPY headed down . It seems that this was due to the fact that Japan's finance minister said that the issue of tax cuts for corporations is not considered that optimism has lowered market participants.
In addition, Aso denied yesterday's comments , Prime Minister Abe , who made it clear that a high probability of corporate tax cuts , which caused euphoria in the global market .
Also, do not exclude increasing pressure on the head of the BOJ Haruhiko Kuroda , the implementation of which requires a larger volume of unpopular measures : a new government for the first time in the last 15 years, plans to raise sales taxes .
With regard to statistics , the rate of basic consumer inflation rose by 0.8 % to 5 -year high.
USD / JPY: Technical Analysis
As the analyst OCBC Bank: « We still have not gotten used to the idea of the excessive strengthening of USD / JPY in the short term , despite the increase in yield of U.S. Treasury bonds and headlines about taxes for corporations in Japan. Given the mood of investors and the situation in the U.S. , the couple can break through the barrier 99.00, but then not excluded pullback to the 55- day moving average of 98.68 . "
