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Positive macroeconomic statistics from the Japan

Positive macroeconomic statistics from the Japan | 20 May 2021

20 May 2021, USD/JPY

Positive macroeconomic statistics from the Japan

USDJPY trading plan:

Japanese manufacturers' business confidence hit a more than two-year high in May, as firms benefited from stronger overseas demand. Orders to the United States and Europe are recovering as a trend, as coronavirus vaccinations are starting to progress. The Tankan sentiment index for manufacturers improved to 21 from 13 in the previous month, hitting its highest since December 2018, the poll conducted May 6-17 showed. The service sector index expanded for the first time since February last year, rising to 2 from minus 3 in April, according to the survey of 482 large- and mid-sized companies, in which 236 firms responded on condition of anonymity.

Investment idea: sell 109.15 and take profit 108.68.

David Johnson
Analyst of «FreshForex» company
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