18 August 2022, USD/JPY
USDJPY trading plan:
U.S. retail sales were unexpectedly unchanged in July as falling gasoline prices weighed on receipts at service stations, but consumer spending appeared to pick up at the start of the third quarter, further assuaging fears the economy was in a recession. Declining gasoline prices, however, freed up money for spending on other goods, including furniture, electronics and appliances, as well as building materials and garden equipment. Retail sales are mostly goods and are not adjusted for inflation. The retreat in gasoline prices from record highs in July resulted in goods prices falling 0.5%. That means inflation-adjusted retail sales increased 0.6% last month. Sales at service stations tumbled 1.8% last month, while receipts at auto dealerships declined 1.6%. Excluding gasoline and motor vehicles, retail sales rose 0.7%.
Investment idea: buy 135.05 and take profit 135.54.
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