The yen clings to the flat

January 27, 2015

On Tuesday morning, the USD/JPY pair is trading exactly in the middle of the mid-term side channel without reacting to the comments of the Bank of Japan.

The Japanese yen at the end of January is in the middle of a side channel of trade, and the USD/JPY pair is trading around the mark of 118.0, and this is a good result, given the volume of volatility in the instrument.

Today, Japan's Minister of Economy Mr. Amari said that the central bank and the economic system may take longer to achieve the inflation target. Target inflation remains at 2%, and we are now talking about a period exceeding two years. The strong side of the BoJ and the Cabinet is that clear timetables for achieving the inflation target were not originally set - so they can work on it thoughtfully and without haste.

Naturally, the downward trend in the commodities market has a negative impact on inflation works. In the event that the period of low oil prices would be protracted by six months or more, another 12 months can be safely added to the designated time of 2 years.

Commodity prices objectively affect the consumer price index, but this is an external factor, which cannot be curbed.

In general, the Japanese economy is still in a fairly equilibrium state: stimulation processes take their course, and all would be well if not for the proportional growth of the national debt, which the politicians are so carefully being silent about.
RoboForex Analytical Department

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