USDJPY – Down
USDJPY trading plan:
Japan’s factory activity contracted for the sixth straight month in April, but the details of a private survey released showed the manufacturing sector was edging towards stabilisation amid a slower decline in new orders. The final au Jibun Bank Japan Manufacturing Purchasing Managers‘ Index was up slightly at 49.5 in April from March’s 49.2, and matched the flash reading. New orders contracted at the softest pace since July while remaining below the 50.0 threshold for a tenth consecutive month as inbound demand stabilised moderately. Factory output also contracted for a tenth consecutive month, with some manufacturers citing those raw materials shortages had weighed on production.
Investment idea: buy 137.29 and take profit 137.91.
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