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Bullish rally in the stock markets

Bullish rally in the stock markets | 20 August 2019

20 August 2019, USD/JPY

Bullish rally in the stock markets

USDJPY trading plan:

Bullish rally in the stock markets will have a positive impact on the value of USDJPY. Washington decided to extend a reprieve given to Huawei that allowed the Chinese telecom to continue to do business with U.S. companies. The "temporary general license" will be extended for Huawei for 90 days, Commerce Secretary Wilbur Ross confirmed. Stock markets benefited from a broad-based rally in risk assets after a weekend of mostly upbeat talk from the U.S. administration about trade. White House economic adviser Larry Kudlow said recent conversations between both sides had been “positive” and teleconferences would continue for a week to 10 days.

Trading recommendation: Buy 106.44 and take profit 106.90.

David Johnson
Analyst of «FreshForex» company
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