USDJPY – Down
USDJPY trading plan:
China will boost economic demand in a strong, reasonable and moderate manner and accelerate infrastructure construction in the third quarter of the year, officials from the state planner said. As of July 31, China had issued most of the 3.45 trillion yuan in special bonds earmarked for infrastructure, Luo Guosan, an official at the NDRC’s infrastructure development department told the same news conference. That was part of the 2022 annual special bond quota of 3.65 trillion yuan. China is stepping up spending on infrastructure projects to prop up the flagging economy, which has been hobbled by strict COVID-19 restrictions, a troubled property market and weak consumption. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 133.65 and take profit 134.30.
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