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Good news and bad news | 30 January 2020

30 January 2020, USD/JPY

Good news and bad news

USDJPY trading plan:

Good news and bad news. Fed Chairman Jerome Powell in the press conference that followed the statement said the central bank expects that the pace of bill purchases will continue until reserves reach an ample level, expected sometime in the second quarter. The pace of purchases will be gradually scaled down after enough reserves have been built up in the system. This is a positive signal for the stock markets and USDJPY. The World Health Organization will meet later today to decide whether to label the outbreak a matter of global concern. So far, the death toll has reached 170, according to data released by China. This is a negative signal!

Trading recommendation: range 108.60 -109.20.

David Johnson
Analyst of «FreshForex» company
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