Negative macroeconomic statistics from Japan | 19 July 2023
19 July 2023, USD/JPY
USDJPY trading plan:
Confidence at big Japanese manufacturers fell in July for the first time in six months, the Tankan survey showed, in a sign of growing exporter concern about weakening overseas demand. Last month saw Asian factory activity drop, hurt by sluggish demand from China in particular. The also saw many firms cite chip shortages and the elevated costs of raw materials as negative factors. Retailers and real estate firms logged big jumps in confidence but sentiment at information and communications companies - while still robust - dropped somewhat.
Investment idea: buy 139.35 and take profit 139.85.
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