16 December 2022, USD/JPY
USDJPY trading plan:
Japan's manufacturing activity shrank at the fastest pace in more than two years in December on soft demand and persistent cost pressures, a corporate fresh survey showed. While service-sector output rebounded on a tourism reopening, weak factory activity has blurred Japan's recovery prospects as companies enter labour talks, in which wage hikes are deemed essential for post-pandemic economic growth. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index was down to a seasonally adjusted 48.8 in December from a final reading of 49.0 in the previous month. Manufacturing firms continued to struggle in the face of subdued demand conditions and severe inflationary pressures.
Investment idea: buy 136.75 and take profit 137.41.
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