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The bullish rally on the U.S. stock market

The bullish rally on the U.S. stock market | 09 January 2020

09 January 2020, USD/JPY

The bullish rally on the U.S. stock market

USDJPY trading plan:

A bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. Trump said at a White House briefing that Iran's missile strikes overnight on military bases housing U.S. troops in Iraq had not harmed any Americans and that Tehran appeared to be standing down. The S&P 500 and the Nasdaq hit record highs. The S&P 500 index recorded 55 new 52-week highs and no new low. Additional support for the stock market was provided by positive macroeconomic statistics from the United States. The ADP National Employment Report on Wednesday showed private payrolls jumped by 202,000 jobs last month, the largest gain since April, after an upwardly revised 124,000 rise in November.

Trading recommendation: Buy 109.20 and take profit 109.45.

David Johnson
Analyst of «FreshForex» company
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