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Japanese manufacturers' sentiment soured

Japanese manufacturers' sentiment soured | 04 April 2023

04 April 2023, USD/JPY

Japanese manufacturers' sentiment soured

USDJPY trading plan:

Japanese manufacturers' sentiment soured in the first quarter to its worst level in more than two years, eclipsing an uptick in service-sector mood, a central bank survey showed, reinforcing views a strong post-COVID economic recovery is some time away. Corporate inflation expectations hit a fresh high with firms projecting inflation to stay above the Bank of Japan's 2% target five years ahead, the "tankan" showed. External factors will continue to weigh on business morale in coming months as the global economy slows under the weight of U.S. and European monetary tightening.

Investment idea: buy 132.50 and take profit 133.25.

David Johnson
Analyst of «FreshForex» company
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