17 January 2023, USD/JPY
USDJPY trading plan:
Japan's annual wholesale prices rose at a faster-than-expected pace in December, data showed on Monday, adding to recent growing signs of inflationary pressure that could force the central bank to raise interest rates soon. The 10.2% year-on-year rise in the corporate goods price index, which measures the price companies charge each other for their goods and services, exceeded a median market forecast for a 9.5% gain, Bank of Japan data showed. It followed a revised 9.7% increase in November. The yen-based import price index rose 22.8% in December from a year earlier, slowing from a revised 28.0% gain in November, in a sign the currency's recent sharp ascent helped temper the cost of importing fuel and raw material.
Investment idea: sell 129.20 and take profit 128.30.
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