26 September 2022, USD/JPY
USDJPY trading plan:
US business activity contracted in September for a third-straight month, though at a more moderate pace as a pickup in orders and a further softening of inflation allayed concerns of a more-pronounced pullback. The S&P Global flash composite purchasing managers output index increased 4.7 points to a three-month high of 49.3, the group reported Friday. Readings below 50 indicate contraction. The composite measure of orders at service providers and manufacturers rose to a four-month high. The group’s composite gauge of input prices declined to the lowest level since January 2021. The prices charged measure also showed slower growth, but to a lesser extent than inputs as manufacturers sought to pass on high costs to customers.
Investment idea: buy 143.37 and take profit 143.90.
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