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Good signal for the stock market and USDJPY

Good signal for the stock market and USDJPY | 20 May 2019

20 May 2019, USD/JPY

Good signal for the stock market and USDJPY

USDJPY trading plan:

The United States pleases investors with positive macroeconomic statistics. We have seen good news on consumer confidence and the real estate market. The University of Michigan said its consumer sentiment index increased 5.3% to 102.4, the highest reading since 2004. D. Trump postponed the validity of duties on European cars - this is a positive signal for the stock markets. The S&P500 may test the psychological level of 2900 this week. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Trading recommendation: Buy 110.01 and take profit 110.52.

David Johnson
Analyst of «FreshForex» company
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