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Negative statistics from Japan

Negative statistics from Japan | 09 July 2020

09 July 2020, USD/JPY

USDJPY trading plan:

In a quarterly regional report Thursday, the central bank lowered its assessment for all nine of Japan’s economic regions, cutting them across the board for a second straight quarter. The bank said all of the areas had either “deteriorated” or were “in a severe situation.” The cautious tone of the regional Sakura report is likely to be reflected in a quarterly outlook the BOJ will release next week along with its policy statement. Many traders see the bank making some downward revision to its economic projections. This is a negative signal for the Japanese currency.

Trading recommendation: Buy 107.10 and take profit 107.44.

David Johnson
Analyst of «FreshForex» company
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