30 May 2022, USD/JPY
USDJPY trading plan:
The Federal Reserve's hawkish monetary policy stance as it fights to quell high inflation and bring it back to its 2% target has fanned worries of a recession. The U.S. central bank has raised its policy interest rate by 75 basis points since March. The Fed is expected to hike the overnight rate by half a percentage point at each of its next meetings in June and July. Although inflation continued to increase in April, it was not at the same magnitude as in recent months. The personal consumption expenditures price index rose 0.2%, the smallest gain November 2020, after shooting up 0.9% in March.
Investment idea: buy 126.95 and take profit 127.61.
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