USDJPY – Down
USDJPY trading plan:
U.S. labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, giving the Federal Reserve a boost in its fight against inflation. There was more encouraging news on inflation, with other data showing house price growth slowing considerably in November. The reports were published as Fed officials began a two-day policy meeting. The U.S. central bank is expected to raise its policy rate by 25 basis points, further scaling back the pace of its interest rate increases. The Fed’s rate hikes in 2022 were successful at cooling an overheated economy. This is a negative signal for the dollar.
Investment idea: sell 130.75 and take profit 130.02.
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