19 tháng tư 2023, USD/JPY
USDJPY trading plan:
China's central bank has plenty of reasons to loosen policy as deflationary pressures in the economy deepen, but record credit growth is likely to limit the extent of any monetary support it's able to provide. While the recovery from last year's pandemic slump in the world's second-largest economy gathered pace in the first quarter, the upbeat headline figures mask the underlying weakness in both household and external demand. Despite the bounce in growth, consumer price inflation is slowing sharply, and factory gate prices are in free fall, increasing pressure on the People's Bank of China to cut rates or release more liquidity into the financial system. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 134.39 and take profit 134.90.
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