23 May 2019, USD/JPY
USDJPY trading plan:
Negative macroeconomic statistics from Japan will have a positive impact on the value of USDJPY. The Markit Japan Manufacturing Purchasing Managers Index (PMI) fell to a seasonally adjusted 49.6 in May from a final 50.2 in the previous month - the 50 mark separates contraction from expansion. The index for new export orders fell to a preliminary 47.1. The companies' expectations for future output showed contraction for the first time since November 2012. Export is an important element of the Japanese economy. The decline in exports is a negative signal for the Japanese yen.
Trading recommendation: Buy 110.15 and take profit 110.65.
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