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This is not what the Fed was hoping to see

This is not what the Fed was hoping to see | 01 June 2023

01 June 2023, USD/JPY

USDJPY trading plan:

U.S. job openings unexpectedly rose in April and data for the prior month was revised higher, pointing to persistent strength in the labor market that could compel the Federal Reserve to raise interest rates again in June. Demand has remained resilient despite 500 basis points worth of interest rate increases from the Fed since March 2022, when the U.S. central bank embarked on its fastest monetary policy tightening campaign since the 1980s to tame inflation. The flow of strong data has diminished expectations that the Fed could pause further rate increases next month. The Fed's "Beige Book" report described the labor market as having "continued to be strong" in May, with contacts reporting difficulty finding workers across a wide range of skill levels and industries.

Investment idea: range 139.20 -140.20

David Johnson
Analyst of «FreshForex» company
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