USDJPY – Down
USDJPY trading plan:
Japan’s factory output fell in September for the first time in four months as manufacturers grappled with rising raw materials costs and global economic slowdown, and is likely to fall again next month before picking up in November, the government said. In a brighter sign for the world’s third-largest economy, retail sales grew for a seventh consecutive month, raising hope for a sustainable boost in consumption after the easing of COVID-19-related inbound border controls earlier in October. COVID-19-induced supply bottlenecks are easing, but demand-side risk from global economic slowdown could drag on output.
Investment idea: buy 147.22 and take profit 147.80.
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