USDJPY – Down
USDJPY trading plan:
Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose at their fastest annual pace in 40 years in November and exceeded the central bank’s 2% target for a sixth straight month, signalling broadening inflationary pressure. The Tokyo core consumer price index, which excludes fresh food but includes fuel, was 3.6% higher in November than a year earlier, government data showed. The rise exceeded a median market forecast of 3.5% and the 3.4% increase seen in October. While the rise was driven mostly by electricity bills and food prices, companies were also charging more for durable goods as the weak yen pushed up the cost of imports, the data showed.
Investment idea: buy 137.60 and take profit 138.45.
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