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The Fed's campaign is in fact working

The Fed's campaign is in fact working | 03 April 2023

03 April 2023, USD/JPY

USDJPY trading plan:

The personal consumption expenditures price index increased 0.3% last month after accelerating 0.6% in January. In the 12 months through February, the PCE price index advanced 5.0% after rising 5.3% in January. Excluding food and energy, the PCE price index climbed 0.3% after increasing 0.5% in January. The core PCE price index rose 4.6% year-on-year after gaining 4.7% in January. The Fed tracks the PCE price indexes for its 2% inflation target. The two-year U.S. Treasury yield was up 1.1 basis points at 4.11%. This is a positive signal for the dollar.

Investment idea: buy 133.35 and take profit 134.11.

David Johnson
Analyst of «FreshForex» company
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