10 November 2023, USD/JPY
USDJPY trading plan:
The dollar was on track for its best week against the yen in three months, after Federal Reserve Chair Jerome Powell and a chorus of Fed officials poured cold water on market expectations of a peak in U.S. rates. A slew of Fed policymakers including Powell said on Thursday they are still not sure that interest rates are high enough to finish the battle with inflation, comments taken as hawkish by markets and which sent the greenback rising. The remarks from Fed officials came a week after the U.S. central bank left interest rates steady and cemented expectations that rates could have peaked, causing the dollar and Treasury yields to tumble in the aftermath.
Investment idea: buy 151.20 and take profit 151.85.
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