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According to Nippon Television News, Japan is considering proposing a supplementary budget of approximately 3 trillion yen.On May 21, Bank of Japan policy board member Junko Koeda expressed support for raising the benchmark interest rate, the latest sign that momentum is building for action as early as next month. "I believe that potential inflation could exceed 2% in the future," Koeda said on Thursday in a speech to local business leaders in Fukuoka, western Japan. "Therefore, I believe it is reasonable for the Bank of Japan to raise the policy rate at an appropriate pace to address high inflation, while considering the pros and cons to the economy." At the April policy meeting, Koeda was one of the majority members who voted to keep the rate unchanged; that meeting saw a 6-3 vote, the largest split since Governor Kazuo Ueda took office. While Koeda did not specify her preferred timing for the next move, her comments likely support speculation that the authorities will raise rates at the next policy decision on June 16. She is the second member in the majority to hint at a possible future rate hike, after the Bank of Japan stated earlier this month that the authorities should raise rates "at the earliest possible stage" as long as the economy remains stable.On May 21, SoftBank Groups stock price surged nearly 20% in early Tokyo trading, boosted by news that OpenAI was planning to file for an IPO. On the same day, SB Energy, SoftBanks second-largest investment in a data center energy infrastructure company, announced it would secretly file a registration statement for a U.S. IPO. SoftBank has a close relationship with OpenAI Capital, holding approximately 13% of its shares, and has invested approximately $64.6 billion through its Vision Fund. Sources familiar with the matter revealed that OpenAI plans to file for an IPO in the coming weeks, aiming for a listing this fall.Bank of Japan board member Junko Koeda: Some market participants believe that market perceptions of fiscal policy have influenced the formation of Japanese government bond yields.Bank of Japan policy board member Junko Koeda: Maintaining a positive real long-term interest rate is necessary for the health of the market.

Short-term bullishness on the AUD/JPY requires breaking the 20-day exponential moving average

Alina Haynes

Oct 13, 2022 14:41

 截屏2022-10-13 上午10.03.01.png

 

The AUD/JPY pair experienced fresh demand at the 92.00 round-level support during the Tokyo session. The cross's current momentum is projected to push the asset beyond the immediate barrier of 92.42 as the risk-on profile emerges in the market.

 

The cross has moved into the previous highest auction area on a four-hour timeframe, which is often referred to as the most recently traded range. The balanced profile has a range of 92.16 to 94.74. The fact that the asset is in the highest auction area suggests that it is having difficulty during the inventory adjustment phase and that a pivotal move is about to be made.

 

The cross has solidly positioned itself above the EMA at 92.00 for the 20-period time frame. While the 92.61 50-EMA is still unreachable.

 

The cross is no longer bearish since the Relative Strength Index (RSI) (14) has changed its range from 20.00 to 40.00 to 40.00 to 60.00.

 

The asset will go to the low of 92.93 on October 5 and the high of 94.22 on September 30 if the Wednesday high of 92.42 is broken.

 

On the other hand, a loss below Wednesday's low of 91.29 will send the asset in the direction of the August 2 low of 90.52. Bulls in the yen will continue to push the asset toward the psychological support of 90.00 if it gives up the cushion around 90.52.


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