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Traders should focus on the Fed "explicit" guidance

Traders should focus on the Fed "explicit" guidance | 02 March 2021

02 March 2021, USD/JPY

Traders should focus on the Fed "explicit" guidance

USDJPY trading plan:

Traders evaluating Fed policy should focus on the central bank's "explicit" guidance on its plans and the relevant economic outcomes, not on second-guessing far ahead of time when interest rates or the pace of monthly asset purchases might change, Richmond Federal Reserve President Thomas Barkin said. The guidance from the Fed "is as clear and explicit as we have seen," pegging any interest rate increase to inflation exceeding the Fed's 2% target and a return to full employment, and any change in asset purchases to significant progress towards those goals, Barkin told. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 106.66 and take profit 107.05.

David Johnson
Analyst of «FreshForex» company
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