Positive macroeconomic statistics from Japan | 25 October 2021

25 October 2021, USD/JPY

Positive macroeconomic statistics from Japan

USDJPY trading plan:

Japan's core consumer prices rose in September for the first time since the early stages of the coronavirus pandemic in March 2020, a sign that rising energy and raw material costs are gradually pushing up inflation. The gain was driven mostly by a 7.4% spike in energy costs, which was the biggest annual rise in nearly three years. Gasoline costs surged 16.5% in September from a year earlier. Japan's factory activity growth in October picked up from the previous month, while that of the services sector expanded for the first time in 21 months after an easing of coronavirus pandemic restrictions at home. The data will be among factors the Bank of Japan will consider at next week's policy meeting, when it releases fresh quarterly growth and inflation projections.

Investment idea: sell 113.80 and take profit 113.30.

David Johnson
Analyst of «FreshForex» company
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