Negative macroeconomic statistics from Japan | 22 November 2019
22 November 2019, USD/JPY
USDJPY trading plan:
Negative macroeconomic statistics from Japan will have a positive impact on the value of the U.S. dollar. Nationwide core CPI rose just 0.4% year-on-year in October, underscoring the challenge the Bank of Japan faces in firing up inflation to its elusive 2% target. Private consumption grew 0.4% in July-September, slowing from a 0.6% increase in the previous quarter, despite stronger demand from households. Heightening fears of recession have prompted calls from ruling party lawmakers for an extra budget including $92 billion in spending to revive growth.
Trading recommendation: Buy 108.56 and take profit 109.22.
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.
