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Sentiment is likely to fall further

Sentiment is likely to fall further | 28 August 2023

28 August 2023, USD/JPY

Sentiment is likely to fall further

USDJPY trading plan:

U.S. consumer sentiment fell modestly in August, as short- and long-term inflation expectations worsened, a fresh survey showed. The University of Michigan's final August reading on the overall index of consumer sentiment came in at 69.5 compared to 71.6 in July, and 1.7 percentage points lower than a preliminary reading earlier in the month. August had the second highest reading since December 2021, and was far closer to the historic average of 86 than the all-time low registered in June 2022. The relatively positive outlook was buoyed by robust consumer spending and a resilient labor market.

Investment idea: range 146.00 -146.90.

David Johnson
Analyst of «FreshForex» company
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