Sphyn-Trader

USDJPY: The next direction?

Long
Sphyn-Trader Updated   
OANDA:USDJPY   U.S. Dollar / Japanese Yen
When the dust settles, the Fed is set to continue raising rates

In the event that the Fed meeting took place today, they would likely maintain current interest rates due to lingering doubts about the stability of banks. However, there is a possibility of a rate hike of 25 basis points if the upcoming weekend is calm and there are no urgent efforts to save any banks. The Fed tends to increase rates until they encounter a problem. In the event that the only issue is with SVB, persistent inflation may result in additional rate hikes. This will strengthen the US Dollar and eventually lead to a decline in stocks once the temporary relief rally associated with the absence of new bank failures subsides.
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USD has had a positive impact on USD/JPY

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