02 Juni 2023, USD/JPY
USDJPY trading plan:
A risk-on rally fuelled by rising expectations the Federal Reserve will stand still on interest rates in two weeks, and by relief that the congress approved a U.S. debt-limit suspension. And so, the U.S. averts what would have been a first-ever and catastrophic default. The Treasury Department had warned it would be unable to pay all its bills on June 5 if Congress failed to act. Markets though seemed to have moved on to focus on what the Fed will do in two weeks as U.S. economic data bolstered the case for the Fed to stand pat. Dovish rhetoric from Fed officials has helped to lift sentiment. Futures trading indicated an 80% probability that the Fed will refrain from raising rates, compared with a 48% probability a week earlier, according to the CME FedWatch tool. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 138.56 and take profit 139.35.
en 
cn 
ar 
ru 
vn 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 
ms 