31 Mei 2023, USD/JPY
USDJPY trading plan:
U.S. consumers were less optimistic on the labor market, with the share viewing jobs as "plentiful" falling to the lowest level since April 2021 and the proportion of those saying jobs were "hard to get" rising to a six-month high. Consumers expected inflation over the next 12 months to average 6.1%, the lowest level since January 2021 and down from 6.2% last month. Inflation readings have been persistently high, increasing the probability that the Federal Reserve will raise interest rates again this month. Financial markets saw more than a 60% chance of the U.S. central bank raising its policy rate by another 25 basis points at its June 13-14 meeting, according to CME Group's FedWatch Tool. Minutes of the Fed's May 2-3 policy meeting, which were published last week, showed policymakers "generally agreed" the need for further rate hikes "had become less certain."
Investment idea: buy 139.40 and take profit 140.00.