31 October 2022, USD/JPY
USDJPY trading plan:
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.6% last month, the Commerce Department said on Friday. Data for August was revised higher to show spending increasing 0.6% instead of 0.4% as previously reported. The personal consumption expenditures price index rose 0.3% after a similar gain in August. Year to date it increased 6.2%, matching August's rise. Excluding food and energy components, the PCE price index climbed 0.5% after increasing by the same margin in August. It advanced 5.1% on a year-on-year basis in September after increasing 4.9% in August. The Fed tracks the PCE price indexes for its 2% inflation target. Other inflation measures are running much higher.
Investment idea: buy 147.80 and take profit 148.60.
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