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Negative macroeconomic statistics from Japan

Negative macroeconomic statistics from Japan | 23 June 2021

23 June 2021, USD/JPY

Negative macroeconomic statistics from Japan

USDJPY trading plan:

The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index fell to a seasonally adjusted 51.5 in June from a final 53.0 in the previous month, largely due to a sharp decline in output. Output shrank at the quickest rate since last November, the PMI survey showed, underscoring the pressure Japanese firms were facing from restrictions put in place in response to the health crisis. "Flash PMI data signalled a quicker deterioration in business activity," said Usamah Bhatti, economist at IHS Markit, which compiles the survey. Manufacturers faced disruptions to operating conditions from ongoing COVID-19 restrictions and supply chain pressures, according to Bhatti.

Investment idea: buy 110.55 and take profit 110.90.

David Johnson
Analyst of «FreshForex» company
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