13 February 2023, USD/JPY
USDJPY trading plan:
The dollar gained, as traders grew concerned about a U.S. inflation report this week that could show a number that is higher than markets forecast amid data showing expectations for a continued rise in prices over the next year. The University of Michigan surveys on Friday showed a one-year inflation outlook of 4.2%, higher than the final number in January. The overall index of consumer sentiment came in at 66.4, up from 64.9 the prior month. Federal Reserve Chair Jerome Powell has cited the Michigan survey's inflation outlook as one of the indicators the U.S. central bank tracks.
Investment idea: buy 131.66 and take profit 132.55.
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