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Japan's factories posted a sharp fall in output

Japan's factories posted a sharp fall in output | 01 June 2022

01 June 2022, USD/JPY

USDJPY trading plan:

Japan's factories posted a sharp fall in output in April as China's COVID-19 lockdowns and wider supply disruptions took a heavy toll on manufacturers, clouding the outlook for the trade-reliant economy. Factory output dropped 1.3% in April from the previous month, official data showed, on sharp falls in the production of items such as electronic parts and production machinery. Japan's production is likely to keep stalling in the short term as disruptions in the global supply chain continue. Logistics won't be restored in a day.

Investment idea: buy 128.77 and take profit 129.45.

David Johnson
Analyst of «FreshForex» company
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