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The expansion was weaker

The expansion was weaker | 18 July 2022

18 July 2022, USD/JPY

USDJPY trading plan:

China's industrial output grew 3.9% in June from a year earlier, quickening from a 0.7% rise in May, official data showed, as activity began to recover from months of crippling COVID lockdowns. Fixed asset investment grew 6.1% in the first six months of the year from the same period a year earlier, versus a forecast 6.0% rise and down from a 6.2% jump in January-May. While June data offered some signs of improvement for the world's second-largest economy, analysts do not expect a rapid recovery as the government is sticking to its tough zero-COVID policy. The country's property market is in a deep slump and global growth is faltering.

Investment idea: sell 138.61 and take profit 138.04.

David Johnson
Analyst of «FreshForex» company
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