26 October 2022, USD/JPY
USDJPY trading plan:
Home-price growth in the US slowed the most on record as a doubling of borrowing costs has sapped demand. A national measure of prices increased 13% in August from a year earlier, down from 15.6% in July, the S&P CoreLogic Case-Shiller index showed Tuesday. That’s the biggest deceleration in the index’s history. The housing market has started to slump as the Federal Reserve hikes interest rates to curb the hottest inflation in decades. Even with the deceleration, prices remain high compared to last year. Coupled with mortgage rates that are edging closer to 7%, many would-be buyers have been shut out, while some sellers have retreated.
Investment idea: sell 148.10 and take profit 147.45.
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