03 March 2022, USD/JPY
USDJPY trading plan:
Federal Reserve chair Jerome Powell said he is inclined to support a 25-basis point rate increase at the March policy meeting but said the central bank is prepared to move more aggressively later if inflation does not abate as expected. The remarks eased widely held expectations before the invasion of a 50 basis-point hike. U.S. companies in February added more jobs than forecast as Covid-19 cases dropped and restrictions eased, encouraging more Americans to work. Businesses’ payrolls rose by 475,000 last month, according to ADP Research Institute data. Last month large companies showed they are well-poised to compete with higher wages and benefit offerings, and posted the strongest reading since the early days of the pandemic recovery.
Investment idea: buy 115.45 and take profit 115.95.
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