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Bullish rally on the US stock market

Bullish rally on the US stock market | 13 October 2020

13 October 2020, USD/JPY

Bullish rally on the US stock market

USDJPY trading plan:

A bullish rally in the U.S. stock market will have a positive impact on the value of USDJPY. The S&P500 climbed on optimism over stimulus talks and an Apple-led tech rally ahead of the tech giant's slate of new iPhones expected to be unveiled on today. Today the Federal Reserve will buy $ 1.75 billion in Treasury bonds, and the US Treasury will redeem $ 10 billion of bonds. Thus, today the inflow of liquidity into the American financial system will amount to $ 12.75 billion, which will accelerate the growth of the American stock market.

Trading recommendation: Buy 105.25 and take profit 105.55.

David Johnson
Analyst of «FreshForex» company
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