14 June 2023, USD/JPY
USDJPY trading plan:
U.S. consumer prices barely rose in May and the annual increase in inflation was the smallest in more than two years, though underlying price pressures remained strong, supporting the view that the Federal Reserve would keep interest rates unchanged while adopting a hawkish posture. The smaller-than-expected rise in the Consumer Price Index, reported by the Labor Department on Tuesday, reflected decreases in the costs of energy products and services, including gasoline and electricity. But rents remained sticky and prices of used cars and trucks rose further. The report was published as Fed officials began a two-day policy meeting. The moderate slowing provides the Fed room to pause its rate hikes this week.
Investment idea: range 139.45 -140.45.
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