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Strong statistics from Japan

Strong statistics from Japan | 11 May 2021

11 May 2021, USD/JPY

USDJPY trading plan:

Japan's household spending posted its biggest monthly gain in 18 months in March. Household spending surged 6.2% in March from a year earlier, after a 6.6% decline in February. The consumer demand rebounded strongly from the heavy blow it took from the worsening impact of the covid-19 pandemic last year. The Japanese government has already deployed huge monetary and fiscal stimulus to help the economy withstand a blow to global trade from the health crisis, and the heavy toll it has taken on consumer sentiment which has hurt services spending.

Investment idea: sell 109.05 and take profit 108.64.

David Johnson
Analyst of «FreshForex» company
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