USDJPY 🇺🇸🇯🇵 - Breakout imminent

Hi Traders,

at USDJPY we are close before a massive long breakout.
But for sure we have to watch the economic data....

WEEKLY FUNDAMENTALS 🗓
Watch out the Economic Calender for week 33/2023 👀…

ℹ️Important economic data:
Tuesday: Retail Sales 🇺🇸
Wednesday: RBNZ Interest rate decision🇳🇿, FOMC minutes 🇺🇸
Thursday: Philly FED Index 🇺🇸
Friday: CPI EU 🇪🇺

FOMC Minutes this week 🇺🇸🇺🇸
Before markets start turning their attention to the Fed’s annual get together in Jackson Hole, Wyoming at the end of the month, investors will be focusing on Wednesday’s minutes from the central bank’s July policy meeting.

The FED raised rates by 25 basis points last month and left the door open to another hike in September. The minutes will help investors gauge the appetite for further rate increases, although markets are betting on a pause in September.

Data last week showed that while U.S. consumer and producer prices increased moderately in July the overall trend indicated that inflationary pressures are easing.

The U.S. central bank has increased interest rates by 5.25 percentage points since March 2022 to bring inflation back down to its 2% goal.


Chart USDJPY 🇺🇸🇯🇵
If the market will break through the resistance at 145.000 there will be likely a lot of short stops liquidated which might cause another long movement.

Wish you all a great trading week!
Team tegsasFX