Negative macroeconomic statistics from the United States | 28 January 2020

28 January 2020, USD/JPY

Negative macroeconomic statistics from the United States

USDJPY trading plan:

A bearish rally in stock markets has a negative impact on the value of USDJPY. The U.S. Commerce Department report on Monday also showed downward revisions to sales for the prior three months. Strength in housing, following a slump in 2018 through the first half of 2019, could offset some of the drag on economic growth. New home sales slipped 0.4% last month to a seasonally adjusted annual rate of 694,000 units. November's sales pace was revised down to 697,000 units from the previously reported 719,000. September and October sales were also marked down. This is a negative signal for the U.S. stock market.

Trading recommendation: Sell 109.10 and take profit 108.85.

David Johnson
Analyst of «FreshForex» company
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