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The bullish rally on the U.S. stock

The bullish rally on the U.S. stock | 31 March 2020

31 March 2020, USD/JPY

USDJPY trading plan:

The bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. The rally on stock market comes just days after Donald Trump signed the $2 trillion stimulus package, the largest aid package in U.S. history, to ensure the economy bounces back quickly from a widely expected recession. U.S. Federal Reserve cut interest rates again, injected trillions of dollars into the financial system and opened swap lines with other central banks to ease dollar strains overseas. Currency swap rates have calmed down and equities are rallying again.

Trading recommendation: Buy 108.17 and take profit 108.77.

David Johnson
Analyst of «FreshForex» company
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