08 February 2023, USD/JPY
USDJPY trading plan:
Japan's real wages rose in December for the first time since March despite rising inflation, as nominal pay grew at the fastest pace in nearly 26 years with robust winter bonuses. The market closely watches wage trends in the world's third largest economy as high pay growth to counter price increases is seen as a crucial condition for the Bank of Japan to scale back its ultra-loose monetary easing. Total cash earnings, or nominal wages, grew 4.8% year-on-year in December, posting the biggest hike since January 1997's 6.6%. It matched a 4.8% growth in the consumer price index the ministry uses to calculate the pay in real terms, which includes fresh foods but excludes owners' equivalent rent. The inflation rate was the largest since May 1981's 5.1%.
Investment idea: sell 131.55 and take profit 130.90.
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