21 January 2021, USD/JPY
USDJPY trading plan:
Japan's exports rose for the first time in two years in December, driven by shipments to China, government data showed. The Ministry of Finance data out showed Japan's exports rose 2.0% in December from a year earlier. By region, exports to China -- Japan's largest trading partner -- grew 10.2% in the year to December, led by shipments of plastic, nonferrous metals and other raw materials. A recovery in exports may ease the risk of a double-dip recession. This is a positive signal for the Japanese currency!
Investment idea: Sell 103.70 and take profit 103.30.
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