21 February 2023, USD/JPY
USDJPY trading plan:
China kept its benchmark lending rates unchanged for a sixth straight month in February, as expected, with the world's second-largest economy showing more signs of recovery from a pandemic-induced slump. A clutch of better-than-expected data recently suggests economic activity is rebounding as Beijing exited from its stringent zero-COVID strategy in December and shifted to a pro-growth policy stance. the PBOC to stay accommodative in the first half of this year, but only through liquidity-related actions, not rate cuts. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 134.00 and take profit 134.69.
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