02 Marzo 2020, USD/JPY
USDJPY trading plan:
Factory activity in China contracted at the fastest pace ever in February, even worse than during the global financial crisis. This is negative news for USDJPY. China's official Purchasing Managers' Index fell to a record low of 35.7 in February from 50.0 in January, the National Bureau of Statistics said on Saturday, well below the 50-point mark that separates monthly growth from contraction. The economic disruption from the virus will likely extend to the whole first quarter of 2020 since the disease outbreak has caused widespread transport curbs and required tough public health measures that have paralyzed economic activity.
Trading recommendation: range 107.75-108.40.
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