The Fed’s latest policy shift

16 September 2020, USD/JPY

The Fed’s latest policy shift

USDJPY trading plan:

The Fed’s latest policy shift has fueled expectations that rates will stay lower for longer, and is therefore offering – and will likely continue to offer in the foreseeable future – a reason to stick to USD shorts. This is a negative signal for the dollar. Japan's exports posted a double-digit slump for a sixth straight month in August as U.S.-bound shipments shrank due to a global demand slowdown from the COVI-19 pandemic. Total exports fell 14.8% year-on-year in August. That meant exports fell for their 21st straight month, marking the longest run of declines since a 23-month run through July 1987. This is a negative signal for the Japanese yen.

Trading recommendation: range 105.05 -106.00.

David Johnson
Analyst of «FreshForex» company
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