USDJPY – Down
USDJPY trading plan:
U.S. services industry activity unexpectedly picked up in November, with employment rebounding, offering more evidence of underlying momentum in the economy as it braces for an anticipated recession next year. The survey from the Institute for Supply Management followed on the heels of news last Friday that the economy continued to create jobs at a solid clip in November, with wage growth accelerating. Consumer spending also rose strongly in October. The Federal Reserve’s fastest rate-hiking cycle since the 1980s as it wages war against inflation is stoking anxiety about an economic downturn. Thirteen services industries including construction, healthcare and social assistance, retail trade as well as professional, scientific and technical services reported growth last month.
Investment idea: buy 136.70 and take profit 137.70.
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