A look at the day ahead in U.S. and global markets by Amanda Cooper.
The first cut might be the deepest in some cases, but in the case of the Federal Reserve, it would seem not. Wednesday’s monthly inflation report showed a surprise tick up in core inflation that was enough to knock expectations for a jumbo half-point cut from the Fed next week on the head.
USDJ[Y 4 HOUR CHART – CONSOLIDATING?
Looking for a bottom in this USDJPY remains a losing trade after another new low this week at 140,7o.
With that said, the two red AT lines is a pattern that has potential for a low but ONLY if 143.79 is firmly taken out.
Otherwise, current range us 140.70-143.79 as USDJPY consolidates after setting a new low.
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