01 December 2020, USD/JPY
USDJPY trading plan:
Activity in China's factory sector accelerated at the fastest pace in a decade in November, a business survey showed, as the world's second-largest economy recovers to pre-pandemic levels. The Caixin/Markit Manufacturing Purchasing Managers' Index rose to 54.9 from October's 53.6, with the gauge staying well above the 50-level that separates growth from contraction for the seventh consecutive month. E-commerce shopping promotions in November showed strong consumer demand, bolstering confidence for small and medium-sized firms. Economic indicators ranging from trade to producer prices all suggest a further pick up in the industrial sector. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.
Investment idea: Buy 104.10 and take profit 104.41.
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