Negative macroeconomic statistics from Japan | 09 July 2019

09 July 2019, USD/JPY

Negative macroeconomic statistics from Japan

USDJPY trading plan:

We're expecting the bullish trend to continue after the publication of negative macroeconomic statistics from Japan. Japan’s machinery orders fell for the first time since January - the indicator decreased by 7.8%. Capital spending has been an important prop for the economy in recent quarters. The sharp drop in machine orders could be an early signal recessions. The Central Bank of Japan needs to increase the stimulation of the economy. This is a negative factor for the Japanese yen.

Trading recommendation: Buy 108.55 and take profit 108.99.

David Johnson
Analyst of «FreshForex» company
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