30 August 2021, USD/JPY
USDJPY trading plan:
Powell to acknowledge that, at least as of last month's policy meeting, he supported the Fed's reducing its $120 billion in monthly asset purchases this year, with inflation already meeting the bar to do so, and further progress on the employment front expected. But to raise rates the Fed has said the economy must meet a more stringent test, including not only maximum employment but also inflation that has reached and looks on track to exceed 2% for some time. Inflation so far is coming from sharply higher prices in a limited number of sectors, particularly in goods and services hit hardest by the pandemic and for which demand is now fast recovering as the economy reopens. "Time will tell whether we have reached 2% on a sustainable basis," Powell said.
Investment idea: range 109.48 -110.19
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