USD/JPY Signal - JPY Leading Economic Index - 28 Jul 2021

USDJPY is trading to the downside today prior to the JPY Leading Economic Index, which is an economic indicator that consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. With the Tokyo Olympics providing a boost to the JPY economy it is likely to see positive figures. Technically the pair has broken the ascending trendline and has made a correction in the downtrend, giving a perfect entry opportunity for sells. We expect downside into the 108.750 level.