BOJ Ueda was out today saying that, “the central bank would see good reason to shift monetary policy if it became reasonably sure that inflation would accelerate into 2024 after a period of moderation. We always love this central bank verbiage like “reasonably sure,” What the hell does that mean? We know the recent inflation numbers were 4.3% and YCC is still intact. Well one thing is certain, the BOJ is going to have to make a choice here on the Yen, either intervene or see this thing rocket through the 150 level!
When we look at the Sept. Yen futures we have outlined and shown this chart before to our readers, but 68-69 area is key:
