Negative macroeconomic statistics from Japan | 24 مايو 2022

USDJPY trading plan:

Japan's manufacturing activity expanded at the slowest pace in three months in May, as supply bottlenecks due to parts shortages and China's COVID-19 lockdowns caused output and new orders growth to slow. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index slipped to a seasonally adjusted 53.2 in May from a final 53.5 in April. The 50-mark separates contraction from expansion. Output and overall new orders both expanded at their slowest rate in three months, as uncertainty over the outlook for price and supply developments lingered. New overseas orders shrank at the fastest pace since July 2020 in a sign of cooling demand from China, Asia's top economy and Japan's biggest trading partner.

Investment idea: range 127.25 -128.15.