USDJPY – Down
USDJPY trading plan:
The Federal Reserve is „strongly committed“ to fighting inflation and remains hopeful that can be done without the „very high social costs“ involved in prior campaigns to control surging prices, Fed Chair Jerome Powell said, in remarks that were echoed by other U.S. central bankers as they mull another potentially outsized interest rate increase. The Fed „could very well do“ a 75-basis-point increase at its Sept. 20-21 meeting, said Chicago Fed President Charles Evans, who has tended to be on the dovish side of monetary policy debates. That would mark the third such large increase in a row and push the Fed’s target interest rate above 3% for the first time since 2008.
Investment idea: buy 142.60 and take profit 143.10.
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