USDJPY – Down
USDJPY trading plan:
Japan’s government cut its assessment of the strength of industrial production for the first time in three months in March, pointing to weakening demand in the global semiconductor industry. Its overall assessment of the economy was unchanged in the monthly economic report, however. Amid lingering concerns about stress in the world’s banking system, the government retained a vigilant stance in relation to economic effects of financial market fluctuations. Issued by the Cabinet Office, the report said industrial production had weakened recently because the global semiconductor industry had faced a deteriorating market and was therefore buying less fabrication equipment. Japan makes such equipment.
Investment idea: buy 130.25 and take profit 131.00.
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