18 March 2022, USD/JPY
USDJPY trading plan:
Japan's core machinery orders slipped for the first time in five months in January, a worrying sign for an economy. The decline in core orders hurts hopes that a pickup in business spending will support private demand in the world's third-largest economy as firms struggle with surging input prices, a chip shortage and supply disruptions. Core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, contracted 2.0% in January from December, posting their first drop in five months, the Cabinet Office data showed. Japanese firms could delay spending plans due to higher commodity and transportation costs that are sending wholesale inflation soaring and squeezing corporate margins.
Investment idea: buy 118.46 and take profit 119.19.
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