28 February 2023, USD/JPY
USDJPY trading plan:
Japan's factory output shrank at the fastest pace in eight months in January as declining overseas demand took a heavy toll on key industries such as auto and semiconductor equipment. It marked the fastest decrease since May 2022's 7.5% fall, when China's COVID-19 lockdown disrupted Japanese manufacturers' supply chains. Output of auto products slumped 10.1%, dragging the overall index lower while manufacturing of items such as production machinery and electronic parts dropped 13.5% and 4.2%, respectively.
Investment idea: buy 136.61 and take profit 137.45.
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