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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 19 October 2020

19 October 2020, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of USDJPY. U.S. retail sales accelerated in September, rounding out a strong quarter of economic activity. Retail sales jumped 1.9% last month as consumers bought motor vehicles and clothing, dined out and splashed out on hobbies. That followed an unrevised 0.6% increase in August. Retail sales have bounced back above their February level, with the pandemic boosting demand for goods that complement life at home, including furniture and electronics. An aversion to public transportation has boosted motor vehicle purchases. Retail sales rose 5.4% on a year-on-year basis in September.

Trading recommendation: Buy 105.22 and take profit 105.55.

David Johnson
Analyst of «FreshForex» company
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