27 December 2022, USD/JPY
USDJPY trading plan:
U.S. consumers expect price pressures to moderate notably in the next year, with a benchmark fresh survey showing their one-year inflation outlook dropping to the lowest in 18 months in December. The University of Michigan Surveys of Consumers said the one-year inflation outlook, released alongside its bi-monthly reading of overall consumer sentiment, fell to 4.4% this month from a final reading of 4.9% in November and from a preliminary 4.6% reading two weeks ago. That was the lowest since June 2021 and was the half-percentage-point drop in near-term inflation expectations from November was the largest since September 2020. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 132.45 and take profit 133.01.
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