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Japanese businesses are pessimistic

Japanese businesses are pessimistic | 24 October 2023

24 October 2023, USD/JPY

Japanese businesses are pessimistic

USDJPY trading plan:

Japan's factory activity shrank for a fifth straight month in October while the service sector saw its weakest growth this year, a survey showed, amid growing uncertainty over the outlook for the world's third-largest economy. Output slipped at the fastest rate in eight months due to a decline in new orders, the survey showed. Pressured by lower capacity, employment levels slipped into contraction for the first time since February 2021. Cost pressures eased slightly as input price inflation hit a three-month low. The government said Japan's core inflation last month slowed below the 3% threshold for the first time in over a year.

Investment idea: buy 149.27 and take profit 149.86.

David Johnson
Analyst of «FreshForex» company
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