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Negative macroeconomic statistics from Japan

Negative macroeconomic statistics from Japan | 20 May 2020

20 May 2020, USD/JPY

Negative macroeconomic statistics from Japan

USDJPY trading plan:

Japan's core machinery orders slipped in March, suggesting a widening hit to the economy from the coronavirus COVID-19. The ominous plunge in domestic machine tool orders in April suggests 'core' machinery orders fell sharply last month. Japan's tool machinery orders in April fell to their lowest level in more than a decade. The world's third-largest economy slipped into a deepening recession in the last quarter. This is a negative signal for the Japanese yen!

Trading recommendation: Buy 107.50 and take profit 107.90.

David Johnson
Analyst of «FreshForex» company
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