As you see that USDJPY starts gapping at fibonacci 61.8% level or the rate of 142.100.
then re-bounds toward to next resistance level of 143.148ish.
In my point of view after Governor Waller speech on friday that next CPI data release is gonna be the pumping trigger of USDJPY.
It does not matter whether core CPI increases/decreases, Long position is a bit higher advantage than short position.
Is because Govenor Waller said, the peak of FF Rate will be 4% if core PCE decreases 4.3% by fourth quater of 2022.
and at current market expectation of peak FF Rate is 4% since on friday.
So my answer is "It doesnn't matter whether core CPI increases/decreases."
if it increases, USDJPY goes UP.
if it decreases, USDJPY stays the same.
There's only UPSIDE risk exists. not much DOWNSIDE risk.
entry point : 142.596
stop loss : 141.968
T/P : No target atm, but I expect higher than previous high.
then re-bounds toward to next resistance level of 143.148ish.
In my point of view after Governor Waller speech on friday that next CPI data release is gonna be the pumping trigger of USDJPY.
It does not matter whether core CPI increases/decreases, Long position is a bit higher advantage than short position.
Is because Govenor Waller said, the peak of FF Rate will be 4% if core PCE decreases 4.3% by fourth quater of 2022.
and at current market expectation of peak FF Rate is 4% since on friday.
So my answer is "It doesnn't matter whether core CPI increases/decreases."
if it increases, USDJPY goes UP.
if it decreases, USDJPY stays the same.
There's only UPSIDE risk exists. not much DOWNSIDE risk.
entry point : 142.596
stop loss : 141.968
T/P : No target atm, but I expect higher than previous high.