USDJPY – Down
USDJPY trading plan:
The Federal Reserve raised interest rates by half a percentage point and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as a rise in unemployment and a near stalling of economic growth. The Fed’s latest quarterly summary of economic projections shows U.S. central bankers see the policy rate, now in the 4.25%-4.5% range after Wednesday’s 50-basis-point increase, at 5.1% by the end of next year, according to the median estimate of all 19 Fed policymakers. In addition, they’re downgrading GDP estimates for this year, and in particular, for next year. That means they’re willing to tolerate more economic pain to get inflation down to where they think it should be.
Investment idea: sell 136.05 and take profit 135.35.
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