25 May 2022, USD/JPY
USDJPY trading plan:
Gold prices dipped slightly, receding from a two-week high hit in the previous session, as the dollar reclaimed some ground but uncertainty over the trajectory of inflation supported safe-haven bullion's outlook. Investors are struggling with how to assess the landing path of inflation now that peak inflation is behind us. The question for the market is how long it will take to normalize. While gold is often seen as a hedge against inflation, higher short-term U.S. interest rates raise the opportunity cost of holding non-yielding bullion. This is a negative signal for the Japanese yen, as the actors correlate with each other.
Investment idea: buy 126.60 and take profit 127.22.
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