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The Fed committed to not reversing course

The Fed committed to not reversing course | 02 March 2023

02 March 2023, USD/JPY

USDJPY trading plan:

Traders of futures tied to the Federal Reserve's policy rate added to bets that the U.S. central bank will raise its benchmark rate to a range of 5.5%-5.75% by September, as a widely-followed report signaled some upward price pressures in manufacturing last month. The rate-futures contracts currently are pricing in a high likelihood of interest-rate hikes at each of the Fed's next several meetings, and a receding chance of any rate cuts later this year. The fed funds rate is currently 4.5%.4.75%. This is a positive signal for the dollar.

Investment idea: buy 136.39 and take profit 137.00.

David Johnson
Analyst of «FreshForex» company
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