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The Federal Reserve is hawkish

The Federal Reserve is hawkish | 27 September 2023

27 September 2023, USD/JPY

USDJPY trading plan:

The dollar rose to a 10-month high against its major peers, as the prospect of higher-for-longer U.S. rates gripped markets. U.S. Treasuries stabilizer after a heavy sell off in recent days, though yields remained elevated and kept the greenback solidly bid. The U.S. dollar index meanwhile peaked at a 10-month high of 106.30. Fed officials have in recent days flagged the possibility that the central bank would need to raise interest rates further, after it kept rates steady last week but stiffened its hawkish monetary policy stance.

Investment idea: buy 148.70 and take profit 149.30.

David Johnson
Analyst of «FreshForex» company
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