Negative macroeconomic statistics from Japan | 18 11月 2021

18 11月 2021, USD/JPY

Negative macroeconomic statistics from Japan

USDJPY trading plan:

Japan's exports snapped seven months of double-digit growth in October due to slowing car shipments, as global supply constraints hit the country's major manufacturers. The slowing growth shows Japan's vulnerability to supply chain bottlenecks that have been particularly disruptive for the car industry and have clouded the outlook for trade. Imports rose 26.7% in the year to October, bringing the trade balance to a deficit of 67.4 billion yen, compared with the median estimate for a 310.0 billion yen deficit. The weaker-than-expected core orders signal corporate Japan's reluctance to commit to firmer capital spending as supply bottlenecks pose a risk to the outlook.

Investment idea: Buy 114.09 and take profit 114.97.

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David Johnson
Analyst of «FreshForex» company
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