Hawkish Fed talk boosts dollar, long USD/JPY for 101.45
USD/JPY drop below 100.00 levels proved to be short-lived, pair reversed from lows below 100 level on hawkish Fed talk.
NY Fed president Dudley’s warned in the NY session yesterday that markets are too complacent about rate hike risks.
Dudley said he expected stronger growth in US in H2 than in H1 and further improvement in the labour market.
USD/JPY is currently trading around 100.65, supports are seen at 99.54 (Aug 16 low), 98.79 (June 24 low).
The pair finds major resistance at 101.12, break above could find next hurdle at 101.28 and then 101.45.
Our previous call (link below) has achieved TP1&2. FOMC meeting minutes due on the cards later today will be a major driver.
Good to go long on dips around 100.80, SL: 100.30, TP: 101.12/ 101.45/ 101.60
NY Fed president Dudley’s warned in the NY session yesterday that markets are too complacent about rate hike risks.
Dudley said he expected stronger growth in US in H2 than in H1 and further improvement in the labour market.
USD/JPY is currently trading around 100.65, supports are seen at 99.54 (Aug 16 low), 98.79 (June 24 low).
The pair finds major resistance at 101.12, break above could find next hurdle at 101.28 and then 101.45.
Our previous call (link below) has achieved TP1&2. FOMC meeting minutes due on the cards later today will be a major driver.
Good to go long on dips around 100.80, SL: 100.30, TP: 101.12/ 101.45/ 101.60
