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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 06 August 2020

06 August 2020, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of USDJPY. Economic activity in the Services sector grew in July for the second month in a row, say the nation's purchasing and supply executives in the latest Services ISM. The Services PMI registered 58.1 percent, 1 percentage point higher than the June reading of 57.1 percent. This reading represents growth in the services sector for the second straight month after contraction in April and May, preceded by a 122-month period of expansion. According to the Services PMI, 15 services industries reported growth.

Trading recommendation: Buy 105.50 and take profit 106.01.

David Johnson
Analyst of «FreshForex» company
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