12 February 2020, USD/JPY
USDJPY trading plan:
We are expecting a bullish rally on the U.S. stock market which will have a positive impact on the value of USDJPY. Federal Reserve's semiannual Monetary Policy Report encouraged investors to open long positions. Inflation has been low and stable but has continued to run below the Federal Open Market Committee's symmetric 2 percent objective. Job gains averaged 200,000 per month in the second half of last year, and an additional 225,000 jobs were added in January. The pace of job gains has remained above what is needed to provide jobs for new workers entering the labor force, allowing the unemployment rate to move down further over the course of last year. This is a positive signal for the U.S. stock market.
Trading recommendation: Buy 109.80 and take profit 110.18.
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