Negative macroeconomic statistics from Japan | 30 March 2022

USDJPY trading plan:

Japanese retail sales fell 0.8% in February from a year earlier, government data showed. It followed a downwardly revised 1.1% rise in January and marked the first year-on-year contraction since September, when the Delta coronavirus variant overwhelmed hospitals across Japan. Compared with the previous month, retail sales declined 0.8% on a seasonally adjusted basis in February, following an upwardly revised 0.9% fall in the previous month. Throughout February, the government has kept curbs in place in most of urban areas across the nation, as coronavirus infections and death tallies hit the record-highs in the month due to the more infectious Omicron variant.

Investment idea: buy 121.48 and take profit 122.20.