Negative macroeconomic statistics from Japan | 20 مايو 2020
20 مايو 2020, USD/JPY
USDJPY trading plan:
Japan's core machinery orders slipped in March, suggesting a widening hit to the economy from the coronavirus COVID-19. The ominous plunge in domestic machine tool orders in April suggests 'core' machinery orders fell sharply last month. Japan's tool machinery orders in April fell to their lowest level in more than a decade. The world's third-largest economy slipped into a deepening recession in the last quarter. This is a negative signal for the Japanese yen!
Trading recommendation: Buy 107.50 and take profit 107.90.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
