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Positive macroeconomic statistics from Japan

Positive macroeconomic statistics from Japan | 06 July 2022

06 July 2022, USD/JPY

Positive macroeconomic statistics from Japan

USDJPY trading plan:

Japan's services sector activity expanded at the fastest pace in over eight years in June as the easing of coronavirus curbs boosted sentiment among businesses such as those in tourism. The pick-up in activity is welcome news for a government betting on domestic demand to put the world's third-largest economy firmly on a recovery track and help overcome production pressures on the country's manufacturing industry. Greater demand for services and rising fuel and raw material prices, however, caused firms' average input prices to increase at a record pace. A resurgence in COVID-19 cases overseas, especially in Japan's major trading partner China, hindered international sales, according to the survey.

Investment idea: sell 135.65 and take profit 135.00.

David Johnson
Analyst of «FreshForex» company
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