Intra-day news and views and data to be released today – USD/JPY

AceTrader Team AceTrader

Intra-day market moving news and views

Update Time: 28 Jan2022 05:30GMT.

USD/JPY - 115.45.. The greenback remains on the front foot in relatively subdued Tokyo morning after Thur's rally fm 114.48 (Asia) to a 2-week high of 115.48 due to follow-through broad-based USD buying after post-FOMC hawkish comments by Fed chief J Powell. As y'day's break of last week's 115.05 high n daily close abv there suggests correction fm Jan's near 5-year peak at 116.34 has ended, price is en route twd this 2022 peak next week.

Therefore, trading the buck from long side is the way to go today but be wary of pre-weekend profit taking in NY session later today. Bids are noted at 115.20-10 with stops below 115.00 while offers are tipped at 115.45/55 with some stops abv there.

T.G.I.F., US will release a slew of important data, and pay attention to PCE price index (Fed's favourite inflation guage), if annual Dec reading come in sharply higher than previous number of 5.7%, this will bolster market expectation of a 25 b.p. (some are even thinking of 50 b.p.) rate hike at Mar FOMC meeting and USD will rally further.

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AceTrader Team

AceTrader

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