03 Januari 2022, USD/JPY
USDJPY trading plan:
China Evergrande Group dialed back plans to repay investors in its wealth management products, in a move that highlights the deepening liquidity squeeze at the property developer that has failed to meet its offshore debt obligations. Evergrande, whose $19 billion in international bonds are deemed to be in cross-default by rating agencies after the developer missed a deadline to pay coupons earlier this month, did not pay offshore coupons due earlier last week. This is a bad signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: sell 115.45 and take profit 115.01.