Today, the focus of traders minutes of the last meeting of the US Federal Reserve, which will be published at 21:00 GMT. Traditionally, any significant fundamental reason to American origin, we analyze the dynamics through USDJPY. It is worth noting that in recent days the dollar volatility is poor - USDJPY, as a chained, held at the level of 106.50. It is clear that traders are waiting for news of new catalysts, one of which just appears on the agenda of the current trading session.
As before, the Fed expected to disclose plans for further stimulus. Earlier, US President Donald Trump publicly urged the regulator to start the program of quantitative easing and to reduce the high rate of national currency, which, in his opinion, is detrimental to domestic producers. Recall that the US president's administration has long been actively urges the Fed to lower the key rate by 100 basis points.
Problems of the US economy also support the White House's intention to consider the introduction of a number of tax benefits that can be brought up for discussion in Congress in the coming weeks. Most likely we will focus on the proposal to reduce the capital gains tax by indexing it for inflation. However, some representatives of the presidential administration also allow the possibility of a reduction in tax on wages. In the event that today the market will receive a signal from the Fed's readiness to further easing of monetary policy National, USDJPY risks prosest below 106,00.
USDJPY SellLimit 106,90 TP 105,10 SL 107,30
Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author trader analyst Artem Deev company AMarkets. Traders community is not responsible for any losses in the case of the review of materials