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The end of the lockdown in Shanghai

The end of the lockdown in Shanghai | 31 May 2022

31 May 2022, USD/JPY

The end of the lockdown in Shanghai

USDJPY trading plan:

Shanghai on Monday announced an end to its two-month long COVID-19 lockdown. Most of the city's 25 million residents have been confined to their homes for almost all of the lockdown which began on April 1, with curbs only slightly relaxing in recent weeks to allow some to go out for short periods of time. Local authorities had earlier this month said they planned to fully restore normal life by next month. Shanghai suffered a huge setback and lost its shine during the two months of stringent lockdown measures. Although the road to normality is long, these new measures indicate the prioritization of Shanghai’s economic recovery. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 127.40 and take profit 127.91.

David Johnson
Analyst of «FreshForex» company
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