05 April 2022, USD/JPY
USDJPY trading plan:
Japan's households cut spending from the previous month as pandemic curbs, rapid food and fuel price rises and the coronavirus kept wallets shut, casting a shadow over the world's third-largest economy. In a sign of trouble for consumer sentiment, real wage growth stagnated in February as global inflationary pressures weighed on household purchasing power. The month-on-month figures showed a sharp 2.8% decline, also weaker than a forecast 1.5% drop. The data raises some concerns for policymakers looking for ways to offset the hit households are taking from soaring global inflation and a weakening yen, which is pushing up import costs, as the economy shakes off the pandemic's drag.
Investment idea: buy 122.65 and take profit 123.32.
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