No significant events are expected today.

As expected, the Bank of Japan decided to keep the target short-term rate in the range of 0.15-0.25% following the conclusion of its two-day monetary policy review meeting on Friday. The Bank of Japan remains cautious about further rate hikes as they could harm economic activity and disrupt demand-driven inflation, which the bank is trying to maintain.

However, Japanese officials will hold new meetings in October and December, leaving the door open for further rate hikes after recent economic data showed inflation in Japan exceeded expectations. Growing speculation that Japan’s central bank will raise rates again before the end of the year is providing some support to the Japanese yen (JPY).

Data released by Japan’s Statistics Bureau on Friday showed that the national consumer price index (CPI) rose by 3.0% in August compared to 2.8% in July. Meanwhile, the core CPI, which excludes volatile fresh food costs, increased by 2.8% year-on-year in August, matching market expectations of 2.8%.

Recommendations: Mainly trade with Sell orders from the current price level.