19 September 2022, USD/JPY
USDJPY trading plan:
U.S. consumers' near-term inflation expectations fell to a one-year low in September and the outlook over the next five years also improved, easing fears that the Federal Reserve could raise interest rates by a full percentage point this week. The University of Michigan survey's reading of one-year inflation expectations dropped to 4.6%, the lowest since September 2021, from 4.8% in August. The survey's five-year inflation outlook slipped to 2.8%, falling below the 2.9%-3.1% range for the first time since July 2021. Consumer sentiment improved moderately in September, lifted by lower gasoline prices, the University of Michigan survey showed. Its preliminary reading on the overall index on consumer sentiment came in at 59.5 this month, slightly up from 58.6 in August.
Investment idea: range 142.70 -143.70