search

An incredible cashback rate!
40% of the spread!

Join Now

Should We Be Wary of a Correction Ahead of the FOMC Meeting?

Market Report

  1. homeHOME
  2. Market Report
  3. Should We Be Wary of a Correction Ahead of the FOMC Meeting?

Should We Be Wary of a Correction Ahead of the FOMC Meeting?

21.07.2022

Today's Highlights
  1. Philadelphia Fed Business Conditions Index
  2. U.S. Weekly Natural Gas Inventories

In the previous day’s U.S. currency trading, the USD/JPY traded in a range of approximately 60 pips between 137.906 and 138.458, influenced by the Dollar Index, which had fallen to the low 106s.During today’s Asian session, the Bank of Japan announced its policy interest rate, and the pair has been fluctuating wildly within a range similar to yesterday’s. On the daily chart, a divergence is visible where the candlestick pattern and the RSI are moving in opposite directions, so we should be wary of a corrective decline ahead of the FOMC meeting.

European currencies are trading nervously ahead of today’s ECB policy rate announcement, with the euro/dollar pair falling approximately 110 pips from 1.0270 to 1.0156. However, it has regained momentum during today’s Asian trading session and has broken above the 20-period moving average on the hourly chart.Although the pair is currently trading above the 75-period moving average on the 4-hour chart, we will be watching closely to see if the upward trend continues.

Today’s economic indicators include remarks by UK MPC member Pill at 17:00, the announcement of the Turkish CBRT’s policy rate and statement at 20:00, the announcement of the ECB’s policy rate and statement at 21:15, U.S. initial jobless claims at 21:30,U.S. Philadelphia Fed Business Outlook Index, a press conference by ECB President Lagarde at 21:45, the U.S. Leading Economic Index at 23:00, and U.S. weekly natural gas inventories at 23:30. We need to remain vigilant to see if this will create conditions for the Japanese yen to come under selling pressure again.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Market Participants Are Watching the Euro Closely Ahead of Tomorrow’s ECB Policy Rate Announcement

Next Article

Investors Should Keep an Eye on PMI Releases from European to U.S. Trading Hours
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings