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Negative macroeconomic statistics from Japan

Negative macroeconomic statistics from Japan | 27 Marzo 2023

27 Marzo 2023, USD/JPY

USDJPY trading plan:

Japan's manufacturing activity contracted for a fifth straight month in March as output and new orders remained under pressure, a survey showed, suggesting the economic recovery is fragile as global demand slows. Both factory output and new orders declined for a ninth straight month but the pace of contraction eased from February, the sub-index data showed. Japanese manufacturers remained pessimistic about business conditions for a third straight month in March, reflecting worries about slowing global growth that could hurt the country's export engine.

Investment idea: buy 130.45 and take profit 131.40.

David Johnson
Analyst of «FreshForex» company
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