17 Abril 2023, USD/JPY
USDJPY trading plan:
U.S. retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big-ticket items, suggesting that the economy was losing steam at the end of the first quarter because of higher interest rates. With the labor market cooling, retail sales are likely to remain weak. Ebbing demand for goods is undercutting production at factories, with other data showing manufacturing production declining last month. Still, the Federal Reserve is poised to raise rates one more time in May, before an anticipated pause in June in the U.S. central bank's fastest monetary policy tightening cycle since the 1980s. The decline in retail sales was almost across the board. Receipts at auto dealers dropped 1.6%. Furniture store sales fell 1.2%, while receipts at electronics and appliance stores tumbled 2.1%. Sales at building material and garden equipment supplies dealers plummeted 2.1%.
Investment idea: sell 134.40 and take profit 133.60.
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