11 March 2022, USD/JPY
USDJPY trading plan:
Japan's wholesale inflation accelerated in February at the fastest pace in roughly four decades on rising fuel costs, a sign inflationary pressures were building up. The recent war-driven spike in goods prices ranging from oil, to metals to grain will likely keep pushing up wholesale prices in a fresh hit to Japan's resource-poor economy, which is heavily reliant on imported raw material. The rising inflationary pressure adds to pain for Japan's consumption, which was already weak compared to that of Western economies, and may delay the country's recovery.
Investment idea: buy 116.37 and take profit 116.88.
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