17 March 2022, USD/JPY
USDJPY trading plan:
On top of a maximum of seven potential rate hikes this year — as per the number of FOMC calendar meetings — the Fed will also attempt to reduce its balance sheet, which now stands at $8.9 trillion after the central bank loaded up on Treasuries and mortgage-backed securities to support the economy since the outbreak. This is a positive signal for the dollar. The interest rate path shown in new projections by policymakers is tougher than expected, reflecting Fed concern about inflation that has moved faster and threatened to become more persistent than expected, and put at risk the central bank's hope for an easy shift out of the emergency policies put in place to fight the fallout from the pandemic.
Investment idea: buy 118.60 and take profit 119.29.
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