14 March 2022, USD/JPY
USDJPY trading plan:
Japan's household spending rose in January but the business mood sank in the first quarter as rising raw material costs squeezed corporate margins, leaving the country's resource-poor economy facing a hard grind ahead. Household spending rose 6.9% in January from a year earlier, government data showed. Looser curbs to deal with a spike in new Omicron coronavirus variant cases remain in place in some areas of Japan, weighing on household spending. Japan's heavy reliance on imports for fuel and commodity makes its economy vulnerable to a rise in raw material costs.
Investment idea: buy 116.97 and take profit 117.48.
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