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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 04 Febrero 2020

04 Febrero 2020, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of USDJPY. The ISM said its index of national factory activity increased to a reading of 50.9 last month, the highest level since July, from an upwardly revised 47.8 in December. The ISM index had held below the 50 threshold for five straight months. U.S. factory activity unexpectedly rebounded. A measure of exports orders raced to the highest level since September 2018, while a gauge of imports touched levels not seen in 11 months. Manufacturers also reported paying more for raw materials and other inputs.

Trading recommendation: Buy 108.98 and take profit 109.30.

David Johnson
Analyst of «FreshForex» company
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