07 September 2022, USD/JPY
USDJPY trading plan:
The U.S. services industry picked up again in August for the second straight month amid stronger order growth and employment, while supply bottlenecks and price pressures eased, reinforcing the view that the economy was not in recession despite output sinking in the first half of the year. The Institute for Supply Management said its non-manufacturing PMI edged up to a reading of 56.9 last month from 56.7 in July, the second consecutive monthly increase after three months of declines. The growth in services followed the ISM's manufacturing survey last Thursday, which also showed U.S. factory activity grew steadily last month, bucking a trend in other major economies and providing further evidence the economy was not in recession despite gross domestic product contracting in the first half of the year.
Investment idea: buy 142.90 and take profit 143.50.
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