13 July 2022, USD/JPY
USDJPY trading plan:
Wall Street and White House are loudly debating whether the US economy can escape a recession, but that monumental judgment will be made by eight eminent economists meeting quietly and far from public view. While many countries define an economic downturn as two consecutive quarters of negative growth for gross domestic product, the US defers this assessment to elite academics at the National Bureau of Economic Research, based in Cambridge, Massachusetts, whose leaders scoff at the two-quarter benchmark as simplistic and misleading. US GDP contracted in the first quarter and trackers of economic activity, such as the popular Atlanta Fed indicator GDP Now suggest it will do so again in the second quarter when data are release on July 28. However, apart from a possible negative GDP print, many indicators suggest the economy is still expanding.
Investment idea: range 136.70 -137.60.
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