07 January 2022, USD/JPY
USDJPY trading plan:
The U.S. yield curve flattened following the Fed minutes, after steepening the last two session, indicating investors are bracing for rate hikes that push short-term rates higher. The hawkish signal bolsters the case for those who believe the central bank will need to act more decisively in order to contain inflation. While the Fed held its balance sheet in a steady state for about three years after beginning its taper in 2014, soaring consumer prices now may mean that the Fed will need to be more aggressive in reducing its over-$8 trillion balance sheet this time around. This is a bullish signal for the dollar.
Investment idea: buy 115.69 and take profit 116.65.
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