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The economic conditions are set to worsen.

The economic conditions are set to worsen. | 16 April 2020

16 April 2020, USD/JPY

The economic conditions are set to worsen.

USDJPY trading plan:

U.S. retail sales released Wednesday showed sales fell 8.7% from February, nearly three times as much as the sharpest monthly drop during the financial crisis in 2008. Core sales, which strip out auto sales, fell by 4.5%. As most lockdowns occurred only after popular festivals such as Mardi Gras and St. Patrick's Day, the full impact on bars and restaurants was not reflected in the data. Economists are expecting negative statistics for April. The Federal Reserve's Beige Book economic report warned further job cuts are expected in the coming months and the economic conditions are set to worsen.

Trading recommendation: Sell 107.88 and take profit 107.35.

David Johnson
Analyst of «FreshForex» company
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