The USDJPY pair rallied upwards strongly in the previous sessions to breach 144.47 level and settles above it, to cover the recently suffered losses. If the upward momentum is maintained, a possible rise targeting testing 146.17 as a first station might be possible, noting that breaching this level will lead the price to continue rising and visit 147.65 followed by 148.28 areas as next positive stations.
Goldman Sachs now projects two interest rate cuts by the US Federal Reserve next year, advancing its expectation for the first cut to the third quarter, citing cooling inflation. The brokerage had earlier predicted the Fed to begin cutting rates next December. Two cuts would imply a Federal Funds Rate of 4.875 per cent by the end of 2024, compared to its previous forecast of 5.13 per cent.
For our Trading Takeout, David Belle explains how to best exit a trading when it comes to your trading strategy.
0:00 Intro
0:49 USDJPY higher as BoJ dents rate hikes!
4:50 Goldman seems rate cut in Q3 2024 vs Q4 2024!
9:34 How to best exit a trade?
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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