17 June 2022, USD/JPY
USDJPY trading plan:
Japan ran its biggest single-month trade deficit in more than eight years in May as high commodity prices and declines in the yen swelled imports, clouding the country's economic outlook. The growing trade deficit underscores the headwinds the world's third-largest economy faces from a slide in the yen and surging costs of fuel and raw materials, on which domestic manufacturers rely for production. By region, exports to China, Japan's largest trading partner, shrank 0.2% in the 12 months to May on weaker shipments of machinery and transport equipment to the country. Shipments bound for the United States, the world's largest economy, rose 13.6% in May, thanks to stronger exports of machinery and mineral fuels, though those of motor vehicles fell.
Investment idea: buy 133.75 and take profit 134.44.
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