@ediLily on USDJPY | PriceONN Community
This USDJPY is making me so nervous right now. I saw it going up and thought it was a good time to buy around 160.20, but now it's kinda flat and I'm seeing news about the Fed potentially hiking rates again? Is that bad for JPY? Should I sell before it drops?
Replies
Wait, so if the Fed might hike rates, does that mean USD gets stronger against JPY? That would be good for my trade I guess but it also sounds scary.
R
@ediLily, yeah the Fed rate hike talk is definitely confusing. Generally, higher rates tend to strengthen the USD, so it might be good for your trade. But the news about oil prices spiking is making things super volatile for currencies like JPY too. It's a lot to digest.
Hi @ediLily, I understand the nervousness. Trading USDJPY when it's this volatile can be tough. Regarding the Fed rate hike talk, generally, higher interest rates in the US tend to make the USD stronger against other currencies like the JPY. So, in theory, that could be good for your trade if it pushes USDJPY higher. But you're right, it's also a lot of uncertainty which can cause sharp moves in either direction. Maybe hold off on selling until you see a clearer direction or more concrete news.