25 November 2019, USD/JPY
USDJPY trading plan:
Positive macroeconomic statistics from the United States will have a positive impact on the value of USDJPY. IHS Markit said its "flash" purchasing manager’s index for manufacturing rose to 52.2 in November from a final reading of 51.3 in October, while its preliminary services PMI increased to 51.6 this month from 50.6 last month. U.S. manufacturing output accelerated in November to its fastest pace in seven months. Positive trade talks between the United States and China will provide additional support to the bulls. “We have been working actively to try not to have a trade war. We did not initiate this trade war, and this is not something we want,” Xi said in remarks to journalists pooled by the South China Morning Post.
Trading recommendation: Buy 108.70 and take profit 109.19.
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