14 April 2022, USD/JPY
USDJPY trading plan:
China's imports unexpectedly fell in March as COVID-19 curbs across large parts of the country hampered freight arrivals and weakened domestic demand, while export growth slowed. The decline was broad-based. China's imports of crude oil tumbled 14% in March and gas import volumes were the lowest since October 2020. Purchases of copper fell 8.8%, as COVID outbreaks hurt manufacturing and industrial demand for some raw materials remained soft. Exports - a major driver of the economy - rose 14.7% in March, beating analyst expectations for a 13% rise, although slowing from a 16.3% gain in January-February. Many traders expect trade conditions to worsen in April, on slower customs clearance and as the impact from a lockdown in Shanghai is felt. This is a bad signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: sell 125.60 and take profit 124.85.
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