13 December 2021, USD/JPY
USDJPY trading plan:
A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes, seen as an indicator of economic expectations, was at 79.5 basis points, narrowing from a high of 83.8. In the 12 months through November, the CPI accelerated 6.8%. That was the biggest year-on-year rise since June 1982 and followed a 6.2% advance in October. The government reported last week that the unemployment rate fell to a 21-month low of 4.2% in November. Tightening labor market conditions were underscored by a report on fresh showing new applications for unemployment benefits dropped to the lowest level in more than 52 years last week. The Fed has little choice but to accelerate tapering and prepare for the possibility of much earlier rate hikes than it was planning just a few months ago.
Investment idea: buy 113.40 and take profit 114.01.
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