USD/JPY longs ahead of US CPI
Big US Data tonight with inflation for November forecast at 6.8% and this is just days before next weeks FOMC FED meeting where we know they are already starting to worry about inflation.
The trade is very open to downside if inflation misses but it would have to miss by alot to not bounce back. If it comes it lower like 6.5% that still enough for FED to worry and market to buy USD/JPY ahead of the FED meeting next week.
Biggest risks are if Omicron fears come back or stock market falls sharply for any reason as JPY a safe haven
Topside targets are again Y115.
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The trade is very open to downside if inflation misses but it would have to miss by alot to not bounce back. If it comes it lower like 6.5% that still enough for FED to worry and market to buy USD/JPY ahead of the FED meeting next week.
Biggest risks are if Omicron fears come back or stock market falls sharply for any reason as JPY a safe haven
Topside targets are again Y115.
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
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