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Federal Reserve meeting

Federal Reserve meeting | 27 January 2021

27 January 2021, USD/JPY

Federal Reserve meeting

USDJPY trading plan:

U.S. consumer confidence rose moderately in January while lingering concerns about the COVID-19 pandemic led to a further deterioration in households' perceptions of the labor market. The Conference Board's consumer confidence index increased to a reading of 89.3 this month from 87.1 in December. The slight gain likely reflected nearly $900 billion in additional pandemic relief provided by the government at the end of December. This brings this week’s Federal Reserve meeting, the first under the Biden administration. The Fed has pledged to back the economy in any way it can, and rates are likely to be held steady with further commentary about the outlook for an economic revival.

Investment idea: range 103.19 -104.07.

David Johnson
Analyst of «FreshForex» company
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