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.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
