04 October 2021, USD/JPY
USDJPY trading plan:
September PMI data from IHS Markit signaled a substantial improvement in operating conditions across the U.S. manufacturing. The rise in production was strong. The firms linked this to a further upturn in new orders. Demand conditions across the manufacturing sector remained strong at the end of the third quarter, as new sales rose markedly. In contrast to a slower upturn in new orders, foreign client demand strengthened in September. New export orders rose at the fastest pace for four months. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 110.85 and take profit 111.30.
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