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The bullish rally in the U.S. stock market

The bullish rally in the U.S. stock market | 09 April 2020

09 April 2020, USD/JPY

USDJPY trading plan:

The bullish rally in the U.S. stock market will have a positive impact on the value of USDJPY. The straight read of overnight index swap quotes suggested that the federal funds rate would remain below 25 basis points at least until the middle of 2021. This is a positive signal for the U.S. stock market! “It’s important to remember that we entered this crisis with solid economic fundamentals. We have a good base to build on,” Federal Reserve Bank of Chicago President Charles Evanssaid on Wednesday in video remarks to a gathering of the Economic Club of Chicago.

Trading recommendation: Buy 108.70 and take profit 109.10.

David Johnson
Analyst of «FreshForex» company
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