17 May 2021, USD/JPY
USDJPY trading plan:
US Manufacturing production rose 0.4% last month after surging 3.1% in March, the Federal Reserve said. Manufacturing production remains a touch below its pre-pandemic level. Manufacturing, which accounts for 11.9% of the U.S. economy, is being underpinned by massive fiscal stimulus and a shift in demand to goods from services because of the COVID-19 pandemic. «An important contributor to the gain in factory output was the return to operation of plants that were damaged by February's severe weather in the south central region of the country and had remained offline in March,» the Fed said. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 109.09 and take profit 109.46.
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