20 June 2023, USD/JPY
USDJPY trading plan:
The New York Fed’s in-house economic forecasting model is predicting a notably brighter economic future for the U.S. relative to three months ago. The model, which the bank stresses is not an official projection of the bank but a tool for policymakers to use, now sees U.S. growth rising by 1% this year, up from a 0.2% projection in March. The model also sees slightly higher inflation, with the core personal consumption expenditures price index - it’s stripped of food and energy factors — rising by 3.7% this year versus 3.5% in the last set of projections. Hitting 2% inflation, the Fed’s goal, is projected to happen by the close of 2025.
Investment idea: buy 141.66 and take profit 142.20.
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