19 December 2022, USD/JPY
USDJPY trading plan:
U.S. business activity contracted further in December as new orders slumped to the lowest level in just over 2-1/2 years, but softening demand helped to significantly cool inflation. S&P Global said on Friday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 44.6 this month from a final reading of 46.4 in November. It was the sixth straight month that the index remained below the 50 marks, which indicates contraction in the private sector. The Federal Reserve's aggressive interest rate increases to tame inflation are weighing on the economy, though the labor market remains strong as businesses are not keen to lay off workers following difficulties finding labor during the COVID-19 pandemic years.
Investment idea: buy 135.80 and take profit 136.41.
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