Morning traders, we have ONE plan for today's FOMC meeting, and that is to buy USDJPY dips towards 143.000, why? Three reasons, one is because we expect a possible USD dip right at the interest rate announcement as a 75bps is fully priced in, second because after that "dovish" hike we expect a remarkably hawkish Powell which will attract Dollar strength back again, and third is because tonight's BoJ meeting is likely stay on the dovish side which will allow the "carry traders" to get back into USDJPY longs tonight after both the FOMC and BoJ risk events have passed, with that said, USDJPY longs are on our watchlist for today's action
In the meantime, we continue to stay on what is currently our favorite trade which is EURCHF SNB rate decision is tomorrow 30 minutes before the London open
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.