18 December 2019, USD/JPY
USDJPY trading plan:
We are expecting the development of ascending trend. The Federal Reserve said that manufacturing production rose 1.1% last month. There was a 12.4% jump in the production of motor vehicles and parts in November. Overall, production rose 2.1% for consumer goods and 1.7% for business equipment, the Fed said. Utilities output increased 2.9% compared to a decline of 2.4% in the previous month. U.S. homebuilder sentiment advanced in December to the highest level since 1999 amid stronger sales and a surge in prospective buyer foot traffic. The NAHB’s gauge of the traffic of prospective buyers climbed 4 points to 58, matching the highest level since 1998; the index of current sales surged by 7 points to 84, the best reading since 1999.
Trading recommendation: Buy 109.40 and take profit 109.84.
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