27 Juli 2020, USD/JPY
USDJPY trading plan:
Positive macroeconomic statistics from the United States will have a positive impact on the value of USDJPY. Data firm IHS Markit said on Friday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 50.0 this month from 47.9 in June. Its services sector flash PMI increased to 49.6 from a reading of 47.9 in June. Service industry firms reported a faster pace of decline in new orders in July. In contrast, manufacturing firms signaled the strongest expansion in new orders since January.
Trading recommendation: Buy 105.40 and take profit 105.84.