24 August 2023, USD/JPY
USDJPY trading plan:
Sales of new U.S. single-family homes rose in July, as an acute shortage of existing homes drove buyers to new units. New home sales shot up 4.4% to a seasonally adjusted annual rate of 714,000 units last month, the Commerce Department said. New home sales are counted at the signing of a contract, making them a leading indicator of the housing market. They, however, can be volatile on a month-to-month basis. Sales increased 31.5% on a year-on-year basis in July, the largest annual rise since April 2021. The shortage of existing home inventory is pushing potential buyers towards new houses and driving a flurry of new construction.
Investment idea: buy 144.75 and take profit 145.40.
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