The Japanese yen is the funding currency | 06 September 2019

06 September 2019, USD/JPY

The Japanese yen is the funding currency

USDJPY trading plan:

The course of trading is determined by the mood of investors in the stock markets. The Japanese yen is the funding currency in carry trade operations. The inflow and outflow of capital from the equity markets has a strong impact on the quotes of this currency pair. Traders cheered news that the United States and China planned to hold trade negotiations sometime in October. This is event represented the first thaw in relations between the countries in two months. In between, there have been multiple tariff increases imposed by both countries and angry rhetoric. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 106.65 and take profit 107.01.

David Johnson
Analyst of «FreshForex» company
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