01 September 2021, USD/JPY
USDJPY trading plan:
The survey from the US Conference Board showed consumers less inclined to buy a home and big-ticket items like motor vehicles and major household appliances over the next six months, supporting the view that consumer spending will cool in the third quarter after two straight quarters of robust growth. Still, more consumers planned to go on vacation, indicating a rotation in spending from goods to services was underway as economic activity continues to normalize following the upheaval caused by the coronavirus pandemic. Increased spending on services, which account for the bulk of economic activity, should keep a floor under consumer spending. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 110.00 and take profit 110.40.
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