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Positive statistics from the United States

Positive statistics from the United States | 05 February 2021

05 February 2021, USD/JPY

Positive statistics from the United States

USDJPY trading plan:

Today at 13:30 GMT January Nonfarm Payrolls is to be released. This report shows changes in number of people employed in USA non-farm sector. Total number of employed in this sector is about 80% of workers producing USA GDP. Outrunning employment indicators from ADP and ISM indicate growth in the Non-Farm Employment index. Additional support for the USDJPY currency pair will be provided by a bullish rally on the US stock market. The US Federal Reserve has published fresh statistics on the change in excess reserves of American banks, which increased by $30.1 billion over the past week. This allows bankers to increase the volume of speculation in the stock market.

Investment idea: Buy 105.39 and take profit 105.79.

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David Johnson
Analyst of «FreshForex» company
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