08 August 2019, USD/JPY
USDJPY trading plan:
Positive macroeconomic statistics from Asia will have a positive impact on the value of USDJPY. China's exports unexpectedly returned to growth in July despite escalating U.S. trade pressure- July exports rose 3.3% from a year earlier, the fastest since March. But imports remained weak, declining 5.6% and highlighting still sluggish domestic demand. That left China with a trade surplus $45.06 billion last month, compared with a $50.98 billion surplus in June. This factor signals a bullish rally in the stock markets. USDJPY correlates with stock markets and we're expecting positive dynamics today.
Trading recommendation: Buy 106.04 and take profit 106.62.
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