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Bullish rally on the U.S. stock market

Bullish rally on the U.S. stock market | 03 September 2020

03 September 2020, USD/JPY

Bullish rally on the U.S. stock market

USDJPY trading plan:

A bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. U.S. business activity and employment ticked up through late August, according to the Federal Reserve. Manufacturing rose in most Districts, which coincided with increased activity at ports and among transportation and distribution firms. Consumer spending continued to pick up, sparked by strong vehicle sales and some improvements in tourism and retail sectors. Residential real estate sales were also notably higher, with prices continuing to rise along with demand and a shortage of inventory. In the banking sector, overall loan demand increased slightly, led by solid residential mortgage activity.

Trading recommendation: Buy 106.15 and take profit 106.48.

David Johnson
Analyst of «FreshForex» company
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