12 January 2023, USD/JPY
USDJPY trading plan:
Japanese households' inflation expectations crept up in the three months to December, a central bank survey showed, a sign that persistent rises in food and fuel costs were affecting public perceptions on future price moves. The outcome, coupled with prospects for higher wage growth, adds to growing recent signs the world's third-largest economy may be seeing conditions fall in place for the Bank of Japan to phase out its massive stimulus programme. The ratio of Japanese households expecting prices to rise a year from now stood at 85% in December, roughly unchanged from 85.7% in September, a quarterly BOJ frehs survey showed.
Investment idea: sell 132.50 and take profit 131.70.