USDJPY – Down
USDJPY trading plan:
The Federal Reserve meanwhile said that banks had tapped a new liquidity facility, announced just last Sunday, for $11.9 billion in loans, and had drawn another $152 billion from its standing loan window. Separately, a group of large U.S. banks announced $30 billion in deposits to First Republic bank in what U.S. officials said was a „show of support“ meant to shore up confidence in U.S. midsized lenders. If it succeeds in calming markets, it may also leave the Fed free to continue with its inflation fighting rate increases at a policy meeting next week. This is a positive signal for the dollar.
Investment idea: buy 132.50 and take profit 133.50.
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