30 June 2023, USD/JPY
USDJPY trading plan:
U.S. central bankers are likely to resume their rate hike campaign after a break earlier this month, Federal Reserve Chair Jerome Powell signaled, as a fresh slew of stronger-than-expected U.S. economic data underscored why more monetary tightening is likely needed. "We did take one meeting where we didn’t move," Powell said during an event held by the Spanish central bank in Madrid. "We expect the moderate pace of interest rate decisions to continue." The labor market, with unemployment at 3.7%, is very tight, Powell noted. Underlying inflation, while down from its peak last year, is still running at more than twice the Fed's 2% target. "Inflation pressures continue to run high, and the process of getting inflation back down to 2 percent has a long way to go," Powell said.
Investment idea: buy 144.30 and take profit 145.10.
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