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Global efforts to develop a vaccine

Global efforts to develop a vaccine | 22 September 2020

22 September 2020, USD/JPY

Global efforts to develop a vaccine

USDJPY trading plan:

Global efforts to develop a vaccine are coming to a head, with late-stage data on trials by companies such as Pfizer Inc and Moderna Inc possible as soon as October or November. The number of vaccines in development could blunt the negative market impact of any single setback. More than a half-dozen vaccines globally are in late-stage trials out of over 30 currently being tested in humans, according to the World Health Organization. An approval or emergency use authorization this year could lead to a surge in travel, leisure and other stocks that have been decimated by pandemic-related shutdowns, while also fueling a long-awaited shift into value stocks from tech and other growth names that have led the market for years. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 104.49 and take profit 104.90.

David Johnson
Analyst of «FreshForex» company
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