tegasFX

USDJPY ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡ฏ๐Ÿ‡ต - Breakout imminent

ืœื•ื ื’
OANDA:USDJPY   ื“ื•ืœืจ ืืžืจื™ืงืื™ / ื™ื™ืŸ ื™ืคื ื™
Hi Traders,

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

WEEKLY FUNDAMENTALS ๐Ÿ—“

Watch out the Economic Calender for week 33/2023 ๐Ÿ‘€โ€ฆ

โ„น๏ธImportant economic data:
Tuesday: Retail Sales ๐Ÿ‡บ๐Ÿ‡ธ
Wednesday: RBNZ Interest rate decision๐Ÿ‡ณ๐Ÿ‡ฟ, FOMC minutes ๐Ÿ‡บ๐Ÿ‡ธ
Thursday: Philly FED Index ๐Ÿ‡บ๐Ÿ‡ธ
Friday: CPI EU ๐Ÿ‡ช๐Ÿ‡บ

FOMC Minutes this week ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ
Before markets start turning their attention to the Fedโ€™s annual get together in Jackson Hole, Wyoming at the end of the month, investors will be focusing on Wednesdayโ€™s minutes from the central bankโ€™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 ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡ฏ๐Ÿ‡ต

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

๐Ÿ“ˆTrue ECN STP Broker
๐ŸŒ www.tegasfx.com/

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