25 August 2021, USD/JPY
USDJPY trading plan:
Sales of new U.S. single-family homes increased in July after three straight monthly declines. New home sales rose 1.0% to a seasonally adjusted annual rate of 708,000 units last month. June's sales pace was revised up to 701,000 units from the previously reported 676,000 units. Last month's gain in new home sales was driven by a 1.3% rise in the populous South and a 14.4% jump in the West. The market for new homes is being driven by an acute shortage of previously owned houses. But builders have struggled to fully take advantage of the supply squeeze, hampered by soaring lumber prices as well as shortages of other building materials and household appliances.
Investment idea: buy 109.62 and take profit 110.09.
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