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Japanese Ministry of Finance is Ready to Increase Public Debt by 23.0T Yen

11/23/2022 1:09 PM

The yen holds the lead in the USD/JPY pair, correcting around 141.36.

Japanese Finance Minister Shunichi Suzuki urged lawmakers to implement an additional 29.0T yen economic spending package proposed by Prime Minister Fumio Kishida, to be raised through an additional 23.0T yen bond issuance. The decision was caused by historically high inflation, which, according to yesterday's report from the Bank of Japan, reached 2.7% from 2.0% earlier, and increased food and energy prices continue to stand out among the key drivers of its growth.

The US dollar is holding near 107.000 in the USD Index. Statements by the regional Federal Reserve Banks (FRB) heads of Cleveland and San Francisco have made investors anxious about a possible slowdown in interest rate hikes. Today, Initial Jobless Claims will be published: the figure may rise to 225.0K from 222.0K earlier, as well as a report on building permits in October, the number of which, according to experts, will decrease to 1,526M from 1.564M a month earlier.

On the daily chart of the asset, the trading instrument is moving below the global ascending corridor, approaching the previously passed support line.

Technical indicators maintain a weakening sell signal: fast EMAs on the Alligator indicator have begun to approach the signal line, and the AO oscillator histogram is forming upward bars below the transition level.

Resistance levels: 142.20, 145.86. | Support levels: 139.40, 136.21.

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