USDJPY – Down
USDJPY trading plan:
U.S. 30-year fixed-rate mortgages rose to 6.29%, the highest level since 2008, according to Freddie Mac mortgage market survey. The Federal Reserve’s aggressive monetary policy tightening, including a 75-basis point hike announced on Wednesday, has weakened the housing market considerably. The Freddie Mac survey found that 15-year fixed rate mortgages averaged at 5.44% up from 5.21% the week before and 2.15% a year-ago. Impacted by higher rates, house prices are softening, and home sales have decreased. However, the number of homes for sale remains well below normal levels.
Investment idea: buy 142.45 and take profit 143.15.
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