Two strong factors

Events, which should be paid attention to today:

Great Britain – Bank holidays.


for today a mixed background is being formed. On the one hand, the head of the US Federal Reserve Jerome Powell pointed out the need for a further aggressive increase in interest rates, which is favorable for the dollar. Since the Bank of Japan does not plan to increase the rates, the different monetary policy of the two Central Bank does not leave other choice for traders, how to use the reduction of the dollar for purchases. On the other hand, last week we saw sales in stock markets, which is negative for USDJPY, since the currency pair historically greatly correlates with stock indices. Jerome Powell, speaking at an economic symposium in Jackson-Houl, stated that high rates will have a negative impact on the population and business, but if the bets are not raised, then the states are faced with hyperinflation, and this is even more evil.

Trade recommendation: Flat 138.30 -139.30