Daily Alert – Tuesday 23rd January 2024: BoJ gets ready for rate hikes

Mark NugentDaily Alert, January 2024

Daily Alert – Tuesday 23rd January 2024: BoJ gets ready for rate hikes

Good afternoon.

The Bank of Japan kept the interest rate at -0.1%, as expected. However, the statement was positive on wage growth, inflation, and progress towards the price goal. Markets now expect the first hike at the April or June meeting.

I entered a short trade on the Japan225 via a pending order placed last night. This is exactly the same trade as last week’s winner. So far it is just in the money, but it is not really moving. So, stoploss to breakeven, no capital at risk, and we will see what happens.

We have New Zealand CPI later tonight.

I’ll be back tomorrow with a brief video of last week’s profitable Japan225 short trade.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE