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The Japanese yen is the funding currency

The Japanese yen is the funding currency | 16 October 2019

16 October 2019, USD/JPY

USDJPY trading plan:

The course of trading in this currency pair is determined by the dynamics of stock markets. S&P500 rose 1.1% on Tuesday as strong earnings from JPMorgan, UnitedHealth and Johnson & Johnson allayed concerns about the fallout from a prolonged U.S.-China trade war on Corporate America. The S&P index recorded 16 new 52-week highs and no new lows. The Japanese yen is the funding currency in carry trade operations. A bullish rally on the U.S. stock market will have a positive impact on the value of the USDJPY currency pair.

Trading recommendation: Buy 108.55 and take profit 108.94.

TRADE METALS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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