01 April 2022, USD/JPY
USDJPY trading plan:
U.S. consumer spending slowed sharply in February. Personal spending rose only 0.2% on the month, down from an upwardly revised 2.7% in January, according to figures released by the Bureau of Economic Analysis. That was comfortably below expectations for a 0.5% rise. That was despite the fact that personal income rose a more respectable 0.5%, in a month when the effects of the winter wave of Covid-19 had already peaked. The numbers provided fresh evidence of consumer spending reverting to more normal patterns, after two years punctuated by lockdowns and dominated by working-from-home pushed spending in the direction of home improvements and electronic appliances. The strongest gains were seen in food services and accommodation, along with recreation. By contrast, spending declined most on motor vehicles and parts, and on furnishings.
Investment idea: range 122.05 -123.10.
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