05 September 2022, USD/JPY
USDJPY trading plan:
Speculators' net long bets on the U.S. dollar rose in the latest week, according to calculations U.S. Commodity Futures Trading Commission data released. The value of the net long dollar position was $14.21 billion for the week compared with a net long position of $13.79 billion last week. The Fed is seen keeping rates in the 3.75%-4% range until after next summer, when market participants expect the central bank to ease policy slightly. Fed policymakers have leaned against that scenario, with Cleveland Fed President Loretta Mester saying she does not expect any rate cuts next year.
Investment idea: buy 140.25 and take profit 140.80.
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