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The American economy is not gaining momentum

The American economy is not gaining momentum | 18 March 2019

18 March 2019, USD/JPY

USDJPY trading plan:

The FOMC said manufacturing production dropped 0.4 percent last month, held down by declines in the output of motor vehicles, machinery and furniture. Data for January was revised up to show output at factories falling 0.5 percent instead of slumping 0.9 percent as previously reported. The American economy is not gaining momentum. Traders actively selling the U.S. currency. We see sales on all continents. Currencies of emerging markets such as China, Brazil, South Africa and Russia are becoming more expensive. This is a bad signal for the dollar!

Trading recommendation: Sell 111.65 and take profit 111.25.

David Johnson
Analyst of «FreshForex» company
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