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Traders are growing nervous

Traders are growing nervous | 13 March 2023

13 March 2023, USD/JPY

Traders are growing nervous

USDJPY trading plan:

A critical inflation reports this week will test a U.S. stock market already consumed by worries over Federal Reserve hawkishness and potential fallout from the largest bank failure since the financial crisis. Friday’s mixed U.S. jobs report eased some worries about big rate hikes, days after Fed Chair Jerome Powell warned that policymakers may raise rates higher than expected if upcoming data showed the economy remains hot after nearly a year of tightening. Traders are growing nervous that the Fed's campaign to fight inflation by ending the era of cheap money has exposed cracks in the economy that could widen if it ratchets up its rate hikes.

Investment idea: buy 134.03 and take profit 134.70.

David Johnson
Analyst of «FreshForex» company
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