07 April 2023, USD/JPY
USDJPY trading plan:
China's services activity in March revved up at the quickest pace in 2-1/2 years on robust new orders and job creation and a consumption-led post-COVID recovery, a private-sector fresh survey showed. The Caixin/S&P Global services purchasing managers' index rose to 57.8 in March from 55.0 in February, the third consecutive monthly expansion after the government dropped stringent anti-virus curbs late last year. It was the highest reading since November 2020. Rising labour and raw material costs pushed up input prices at the end of the first quarter. Firms also attached greater amounts of incoming new work and subsequent pressure on capacity with backlogs of work. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 131.25 and take profit 131.60.
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