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Negative statistics from the United States

Negative statistics from the United States | 11 April 2022

11 April 2022, USD/JPY

Negative statistics from the United States

USDJPY trading plan:

U.S. wholesale inventories increased more than initially thought in February, but inventory investment probably offered little or no boost to economic growth in the first quarter. The Commerce Department said wholesale inventories rose 2.5% in February, instead of 2.1% as reported last month. Stocks at wholesalers advanced 1.2% in January. Wholesale inventories surged 19.9% in February on a year-on-year basis. Inventories are a key part of gross domestic product. Wholesale motor vehicle inventories rebounded 1.4% after declining 2.3% in January. This is a negative signal for the dollar.

Investment idea: sell 125.50 and take profit 124.90.

David Johnson
Analyst of «FreshForex» company
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