USDJPY – Down
USDJPY trading plan:
Investors continued to debate whether Japanese authorities really would intervene to support their currency, which has fallen sharply this year. A record Japanese trade deficit for August has also underscored the bearish trend for the yen. Japanese currency officials stepped up their rhetoric this week, and the market is really still calling their bluff. It’s very tough to talk a currency down when the fundamentals are so divergent. The world may be edging toward a global recession as central banks across the world simultaneously hike interest rates to combat persistent inflation, the World Bank said. The world’s three largest economies – the United States, China, and the euro area – have been slowing sharply, and even a „moderate hit to the global economy over the next year could tip it into recession,“ the bank said in a new study.
Investment idea: range 143.00 -144.00
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