Good and bad news | 02 اكتوبر 2019

USDJPY trading plan:

Good and bad news for the USDJPY. Negative macroeconomic statistics from the United States on industry are forcing investors to increase short positions. The Institute for Supply Management's index of factory activity, one of the most closely-watched data on U.S. manufacturing, dropped 1.3 points to 47.8, the lowest level since June 2009. Traders fear a recession in the U.S. economy. We are expecting the continuation of the bullish rally on the U.S. stock market, which will have a positive impact on the value of the currency pair USDJPY. G-20 Central banks reduce interest rates which will have a positive impact on the value of stock markets.

Trading recommendation: range 107.30 -108.10.

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