Positive macroeconomic statistics from the United States | 27 July 2020

27 July 2020, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

Positive macroeconomic statistics from the United States will have a positive impact on the value of USDJPY. Data firm IHS Markit said on Friday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 50.0 this month from 47.9 in June. Its services sector flash PMI increased to 49.6 from a reading of 47.9 in June. Service industry firms reported a faster pace of decline in new orders in July. In contrast, manufacturing firms signaled the strongest expansion in new orders since January.

Trading recommendation: Buy 105.40 and take profit 105.84.

David Johnson
Analyst of «FreshForex» company
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