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China's central bank injected 1.2 trillion yuan

China's central bank injected 1.2 trillion yuan | 03 February 2020

03 February 2020, USD/JPY

China's central bank injected 1.2 trillion yuan

USDJPY trading plan:

We are expecting an uptrend to develop. The number of deaths in China from the newly identified virus, which emerged in Wuhan city in the central province of Hubei in December, had risen to 362, the National Health Commission said. Looking to head off panic, China's central bank injected 1.2 trillion yuan of liquidity into the markets via reverse repo operations. Beijing also said it would help firms that produce vital goods resume work as soon as possible. This is a positive signal for the stock markets and USDJPY.

Trading recommendation: Buy 108.47 and take profit 108.88.

David Johnson
Analyst of «FreshForex» company
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