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Negative macroeconomic statistics from Japan

Negative macroeconomic statistics from Japan | 16 February 2023

16 February 2023, USD/JPY

USDJPY trading plan:

Growth in Japan's merchandise exports slowed sharply in January amid weakening Chinese demand for cars and chipmaking machinery, stoking concern about a global slowdown and creating the country's largest trade deficit on record. Aggressive interest rate rises in other advanced economies have cooled demand for Japanese products, which came under more downward pressure in January as China celebrated the lunar New Year holiday. Data issued on this week showed Japan's economy, the world's third largest, had grown at an annualized rate of only 0.6 in the fourth quarter as business investment slumped.

Investment idea: buy 133.55 and take profit 134.10.

David Johnson
Analyst of «FreshForex» company
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