The Yen is trading flat near 131.80 after trading as low as 130.60 yesterday. Break below the August low near 130.40 would set up a test of the May low near 126.35, economists at BBH report.

BoJ to hike in 2023

“Now, all bets are off as markets rightfully price in a BoJ hike in 2023.”

“The August low for USD/JPY near 130.40 is a foregone conclusion. After that is the May low near 126.35. After that is the March 31 low near 121.30 but let’s get to 125 first and then we can talk.”

This article was originally published by Fxstreet.com.Read the original article here.

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