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This week, the first regular FOMC meeting of the year by the US Federal Reserve is scheduled. It is anticipated that the Fed will maintain the current interest rates during this meeting. However, there is speculation about the possibility of hints regarding a future interest rate cut and a potential change in the language used to evaluate inflation. This could be material for a market reversal, and it's crucial to pay attention to Chairman Powell's speech after the FOMC meeting.
- January 30-31: Regular FOMC meeting by the US Federal Reserve
- February 1: Eurozone Consumer Price Index release
- February 2: Non-Farm Payrolls for January, with an expected unemployment rate of 3.8% and an anticipated slowdown in the job market compared to the end of last year.
The USD/JPY chart is currently showing an upward trend. As it has already hit a low point and is rising, a medium to long-term uptrend is expected. However, the 152 line, which previously faced strong resistance, is likely to be a challenging level. Therefore, taking a breather and reassessing the situation in this range would be advantageous.
The anticipated movements at the moment are:
A rise supported by the lower trendline
After a slight setback at the 152 line, a rise supported by the overall trend
These two scenarios seem to be the most likely as of now. Adjustments to the strategy will be made if there are any variables.
Please share your personal opinions in the comments. We kindly ask for your support through likes and subscriptions.
This week, the first regular FOMC meeting of the year by the US Federal Reserve is scheduled. It is anticipated that the Fed will maintain the current interest rates during this meeting. However, there is speculation about the possibility of hints regarding a future interest rate cut and a potential change in the language used to evaluate inflation. This could be material for a market reversal, and it's crucial to pay attention to Chairman Powell's speech after the FOMC meeting.
- January 30-31: Regular FOMC meeting by the US Federal Reserve
- February 1: Eurozone Consumer Price Index release
- February 2: Non-Farm Payrolls for January, with an expected unemployment rate of 3.8% and an anticipated slowdown in the job market compared to the end of last year.
The USD/JPY chart is currently showing an upward trend. As it has already hit a low point and is rising, a medium to long-term uptrend is expected. However, the 152 line, which previously faced strong resistance, is likely to be a challenging level. Therefore, taking a breather and reassessing the situation in this range would be advantageous.
The anticipated movements at the moment are:
A rise supported by the lower trendline
After a slight setback at the 152 line, a rise supported by the overall trend
These two scenarios seem to be the most likely as of now. Adjustments to the strategy will be made if there are any variables.