USDJPY trading plan:
Data on Friday showed U.S. consumer sentiment deteriorated in October, with households expecting higher inflation over the next year, but labor market strength was likely to continue supporting consumer spending. Nearly all demographic groups posted setbacks in sentiment, reflecting the continued weight of high prices. The survey’s reading of one-year inflation expectations increased to 3.8% this month from 3.2% in September. The five-year inflation outlook rose to 3.0% from 2.8% in the prior month, staying within the narrow 2.9-3.1% range for 25 of the last 27 months. This is a positive signal for the US currency.
Investment idea: buy 149.20 and take profit 149.80.
Origin: FreshForex
