20 October 2022, USD/JPY
USDJPY trading plan:
The Fed’s relentless monetary tightening to fight stubbornly high inflation led to a rally in the US dollar and higher bond yields. The Federal Reserve’s influential staff judges that under the surface the US economy is running even hotter than they thought, helping to explain why inflation remains at a 40-year high and providing reason to expect even more interest-rate hikes. US central bank will deliver a fourth consecutive 75 basis-point rate increase next month and keep going until they get rates in the 5% range next year. The economy appears fairly resilient, and the labor market may need to slow substantially to reduce demand and wage pressures.
Investment idea: buy 149.30 and take profit 149.90.
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