11 November 2022, USD/JPY
USDJPY trading plan:
U.S. consumer prices rose less than expected in October, pushing the annual increase below 8% for the first time in eight months, the strongest signs yet that inflation was slowing, which would allow the Federal Reserve to scale back its hefty interest rate hikes. While food prices increased 0.6%, the pace was much slower relative to prior months. The price of food consumed at home rose 0.4%, the smallest gain since December 2021. There were increases in the prices of meats, poultry, fish, eggs, cereals and bakery products. But fruits and vegetables cost less. In the 12 months through October, the CPI increased 7.7% after rising 8.2% on the same basis in September. It was the first time since February that the annual increase in the CPI was below 8%, and the smallest gain since January.
Investment idea: sell 142.47 and take profit 141.90.
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