USDJPY – Down
USDJPY trading plan:
Japan’s current account surplus logged a surprising surge to mark a record for November, as weakness in the yen drove income gains from portfolio investment and direct investment overseas to their highest level for the month. The surplus came in at 1.8 trillion yen, also helped by an easing in the trade deficit. The impact of the weak yen boosting import bills has run its course, curbing trade deficits, while the currency’s weakness helped push up yen-denominated income gains. The primary income surplus, which includes interest payments and dividends from investments overseas, hit 3.7 trillion yen. It was the largest amount for the month since comparable data became available in 1985, with the previous record being 2.4 trillion yen in November 2021.
Investment idea: sell 129.11 and take profit 128.30.
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