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Positive macroeconomic statistics from China

Positive macroeconomic statistics from China | 18 April 2019

18 April 2019, USD/JPY

Positive macroeconomic statistics from China

USDJPY trading plan:

Positive macroeconomic statistics from China will have a positive impact on the value of USDJPY. China's economy grew at a steady 6.4 percent pace in the first quarter, defying expectations for a further slowdown. Retail sales rose 8.7 percent and factory output climbed 8.5 percent. Government support is gradually having an effect. Beijing has unveiled a standard buffet of fiscal stimulus, credit growth, debt restructuring and consumer-focused tax breaks to boost growth. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 111.82 and take profit 112.22.

David Johnson
Analyst of «FreshForex» company
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