USDJPY – Down
USDJPY trading plan:
The Federal Reserve delivered its third straight 75-basis point interest rate hike in its campaign to drive borrowing costs high enough to bring down 40-year high inflation. The Fed’s new projections showed its policy rate rising to 4.4% by the end of the year, before peaking at 4.6% in 2023 to curb uncomfortably high inflation. Rate cuts are not expected until 2024. Fed Chair Jerome Powell, in his press briefing, said there is no painless way to bring inflation down, reiterating that it wants to act aggressively now and keep at it. He added that the Fed’s actions are likely to result in slower growth and higher unemployment.
Investment idea: buy 145.50 and take profit 146.25.
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