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Negative macroeconomic statistics from Japan

Negative macroeconomic statistics from Japan | 27 September 2019

27 September 2019, USD/JPY

Negative macroeconomic statistics from Japan

USDJPY trading plan:

Negative macroeconomic statistics from Japan signals the continuation of the bullish rally in the currency pair USDJPY. Government data released on Friday showed core consumer prices in Tokyo, a leading indicator of nationwide price trends, rose 0.5% in September from a year earlier, slowing from a 0.7% gain in the previous month. It was the slowest growth since May last year and weighed by declines in energy prices. The Central Bank of Japan will hold a meeting on monetary policy on October 31 and may decide to reduce interest rates to stimulate inflation.

Trading recommendation: Buy 107.59 and take profit 108.10.

David Johnson
Analyst of «FreshForex» company
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