08 Febrero 2022, USD/JPY
USDJPY trading plan:
Gold prices climbed to a more than one-week high, supported by inflation worries and lingering geopolitical risks, as markets awaited key U.S. inflation data for cues on the Federal Reserve's interest rate hike trajectory. U.S. inflation figures for January are due on Thursday, with markets now pricing in a one-in-three chance the Fed might hike by a full 50 basis points in March. Although gold is considered a hedge against higher inflation and a safe store of value in times of uncertainty, higher rates raise the opportunity cost of holding non-yielding bullion. This is a positive signal for the Japanese yen, as assets correlate with each other.
Investment idea: sell 115.75 and take profit 115.25.
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