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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 08 January 2021

08 January 2021, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

U.S. services industry activity accelerated in December. The Institute for Supply Management said its non-manufacturing activity index increased to a reading of 57.2 last month from 55.9 in November. As with the manufacturing data, the improvement in the services industry index partly reflected a rise in the survey's measure of supplier deliveries to a reading of 62.8 last month from 57.0 in November. A lengthening in suppliers' delivery times is normally associated with a strong economy and increased customer demand, which would be a positive contribution. This is a positive signal for the US dollar!

Investment idea: Buy 103.57 and take profit 104.05.

David Johnson
Analyst of «FreshForex» company
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