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Newly diagnosed cases of Covid-19

Newly diagnosed cases of Covid-19 | 24 June 2020

24 June 2020, USD/JPY

Newly diagnosed cases of Covid-19

USDJPY trading plan:

Gold is on the cusp of challenging the hard-to-crack $1,775 an ounce mark, potentially opening the way for a move toward its record price. Newly diagnosed cases of Covid-19 and other indicators of the pandemic’s spread soared in hot spots across the U.S. Anthony Fauci, the country’s top infectious-disease doctor, warned that he’s seeing a “disturbing surge” in cases. This is a positive signal for gold and the Japanese yen. The bullish rally in stock markets will have a positive impact on the value of USDJPY. Federal Reserve and other central banks lowered interest rates, while governments worldwide pumped in trillions in stimulus to rescue economies hurt by the pandemic.

Trading recommendation: range 106.30 -107.25.

David Johnson
Analyst of «FreshForex» company
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