Strong statistics from Japan | 11 May 2021
11 May 2021, USD/JPY
USDJPY trading plan:
Japan's household spending posted its biggest monthly gain in 18 months in March. Household spending surged 6.2% in March from a year earlier, after a 6.6% decline in February. The consumer demand rebounded strongly from the heavy blow it took from the worsening impact of the covid-19 pandemic last year. The Japanese government has already deployed huge monetary and fiscal stimulus to help the economy withstand a blow to global trade from the health crisis, and the heavy toll it has taken on consumer sentiment which has hurt services spending.
Investment idea: sell 109.05 and take profit 108.64.
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.
