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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 02 March 2022

02 March 2022, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

U.S. manufacturing activity picked up more than expected in February. The Institute for Supply Management said the outlook for manufacturing over the next two months was favorable, noting that backlog orders last month grew by the most in 11 years. Factories also reported strong order growth. The ISM's index of national factory activity increased to a reading of 58.6 last month from 57.6 in January. All of the six largest manufacturing industries - transportation equipment, machinery, computer and electronic, food, chemical, as well as petroleum and coal products reported moderate-to-strong growth.

Investment idea: buy 114.78 and take profit 115.40.

David Johnson
Analyst of «FreshForex» company
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