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  • usd-coinUSDC (USDC) $ 0.999959
  • solanaSolana (SOL) $ 87.44
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  • figure-helocFigure Heloc (FIGR_HELOC) $ 1.00

Japan economy minister says specific monetary policy is up to the BOJ to decide

Government will not comment on thatHopes that BOJ will guide monetary policy appropriately to stably achieve 2% inflation targetHopes for BOJ to work closely in line with the government on principles stipulated in joint agreementImportant for stock, FX, bond market to move stably reflecting fundamnetalsGovernment will watch market moves with high sense of urgencyWell, he’s still trying to press the BOJ a little in hoping that they will steer clear of a rate hike this month. But if anything else, Ueda looks to have his mind made up. So, we’ll have to just wait and see now. USD/JPY has pared its drop on the day in European morning trade here, with the pair now back up to flat levels at 155.08. The low earlier in the day touched 154.34 before dip buyers stepped back in.
This article was written by Justin Low at investinglive.com.

🔗 Source

💡 DMK Insight

The BOJ’s commitment to stable monetary policy is crucial right now, especially for ETH trading around $3,141.04. With the BOJ aiming for a 2% inflation target, traders should keep an eye on how this influences market sentiment across crypto and traditional assets. If the BOJ successfully aligns its policies with government principles, we could see a more stable environment that supports risk assets like Ethereum. However, any deviation or lack of clarity could lead to volatility, impacting ETH’s price action. Watch for ETH to hold above $3,100 as a key support level; a break below could trigger further selling pressure. On the flip side, if the BOJ’s actions are perceived as inadequate, we might see a flight to safety, affecting not just ETH but also correlated markets like stocks and forex. Keep an eye on the daily chart for any signs of bearish divergence, which could signal a shift in momentum. The next few weeks will be critical as traders assess the BOJ’s effectiveness in managing inflation expectations.

📮 Takeaway

Monitor ETH’s support at $3,100 closely; a break could signal increased volatility, while stability in BOJ policy may support upward momentum.

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