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Panic in the Chinese stock market

Panic in the Chinese stock market | 23 January 2020

23 January 2020, USD/JPY

Panic in the Chinese stock market

USDJPY trading plan:

Good news and bad news. Sales of previously owned U.S. homes jumped in December to the best pace in nearly two years as historically low interest rates continued to lure buyers. Contract closings rose 3.6% from the prior month to a 5.54 million annual rate, according to National Association of Realtors. This is a positive signal for USDJPY. Panic coursed through the world’s second-largest equity market as investors sold stocks on concern a deadly virus will worsen over China’s week-long trading break. This is a positive bad signal for USDJPY.

Trading recommendation: range 109.34 -109.85.

David Johnson
Analyst of «FreshForex» company
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