Good and bad news | 18 Maret 2021

18 Maret 2021, USD/JPY

Good and bad news

USDJPY trading plan:

The yen erased losses and government bond yields briefly rose after a media report that the Bank of Japan will agree to allow yields to trade in a wider band when it ends a two-day policy meeting on Friday. This is a positive signal for the Japanese yen and Japanese bank stocks. Federal Reserve committed to maintaining accommodative monetary policy and projected a rapid jump in U.S. economic growth this year as the COVID-19 crisis eases. While inflation is expected to reach 2.4% this year, above the central bank's 2% target, Fed Chair Jerome Powell called it a temporary surge that will not change the Fed's pledge to keep its benchmark overnight interest rate near zero. This is a negative signal for the dollar.

Investment idea: range 108.50 -109.40.

David Johnson
Analyst of «FreshForex» company
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