The CPI & inflation report in dollar was good. we did not expect a miracle. this numbers present a time to Fed for soft cutting in interest rate at march 2024 .for big movement in the pairs like EUR/USD and GBP/USD it's not enough. it can be like a barrier for sharp run.
but in USD/JPY we can have some pips at long position.
As I said, the pair needed to correction. Although after 16 years, the central bank of Japan(BoJ) has talked about raising interest rates, but we are far from that time(at least Not for 4TF). I made a profit of long (about 300 pips) in the price correction in this pair. Reputable institutions like Goldman Sachs see the price of 155 in the coming months but...
The USD-JPY pair's recent decline was corrected following the release of good news on the unemployment rate and the NFP report. In my opinion, the strength of the dollar against the yen is underestimated. I think that the change in Japan's interest rate policies -announced after many years- is not urgent. A correction to 147 (50% Fibonacci at DTF) is more likely...
