Positive macroeconomic statistics from the United States | 29 April 2019

USDJPY trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of USDJPY. Gross domestic product increased at a 3.2 percent annualized rate in the first quarter - said the Commerce Department. Exports surged and imports declined in the first quarter, leading to a small deficit that added 1.03 percentage points to GDP after being neutral in the fourth quarter. Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, slowed to a 1.2 percent rate from the fourth quarter's 2.5 percent rate. The University of Michigan's final April sentiment index dropped to 97.2 from 98.4 in March. Consumers continued to anticipate muted price gains.

Trading recommendation: Buy 111.36 and take profit 111.81