13 November 2023, USD/JPY
USDJPY trading plan:
Moody's changed the outlook on the government of United States of America's ratings to "negative" from "stable". The rating agency said it expects United States' fiscal deficits will remain very large, significantly weakening debt affordability. The behavior that's taking place on Capitol Hill in terms of not dealing with the fiscal situation when you've got a $1.5 trillion structural deficit is clearly a problem that will be reflected in terms of the market. Moody’s decided that they needed to converge with the market’s view, which is that the U.S. is from the sovereign risk perspective, is clearly a less safe place to invest in than it was pre-COVID and before this run up in debt.
Investment idea: buy 151.49 and take profit 151.95.
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