Positive macroeconomic data from Japan | 19 October 2023

USDJPY trading plan:

Japan's exports hit a record level in September, climbing for the first time in three months as automakers revved up shipments to the U.S. and Europe, unshackled from a global chip shortage that had held them back a year earlier. Exports turned out solid overall despite concerns about the global economic slowdown. By destination, U.S.-bound exports surged 13%, led by hybrid gasoline-electric vehicles, engines as well as mining and construction machinery. Exports to China, Japan's largest trading partner, fell 6.2% for their 10th straight month of decline, dragged down by weaker demand for chips, electronic parts and food.

Investment idea: sell 150.25 and take profit 149.75.