20 January 2023, USD/JPY
USDJPY trading plan:
Japan's export growth slowed sharply in December as China-bound shipments fell for the first time in seven months, stoking fears of further slowdown in the global economy and external demand for Japanese shipments. Exports rose 11.5% year-on-year in December after a gain of 20% in November, marking the slowest growth since the start of 2022, dragged down by a fall-off in sales to China of cars, auto parts and chip-making machinery, Ministry of Finance data showed. The weak data dashes policymakers' hopes for an export-led recovery from the coronavirus pandemic, putting more pressure on the government to persuade Japanese firms to accelerate wage hikes to help boost domestic demand.
Investment idea: buy 128.40 and take profit 128.95.
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