USDJPY – Down
USDJPY trading plan:
By destination, Japan’s shipments to China, its largest trading partner, fell 11% year-on-year in August, marking a third straight month of double-digit drops. The growth of the Chinese economy itself is weak, or at least that is what is being reflected. Exports to the United States rose 5.1% year-on-year in August, driven by shipments of cars, mining and construction machinery. Japanese policymakers are counting on external demand to pick up the slack and offset weak consumer spending. Partly reflecting weak domestic demand, imports fell 17.8%, weighed by energy costs.
Investment idea: buy 147.75 and take profit 148.30.
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