The bullish rally | 03 اكتوبر 2019
03 اكتوبر 2019, USD/JPY
USDJPY trading plan:
We are expecting a bullish rally today. The 2-Year yield fell to 1.468%, approaching a two-year low of 1.428%, after a weak U.S. private sector jobs report depressed boosted expectations that the Federal Reserve will cut interest rates this month. Traders see a 75% chance the Fed will cut rates by 25 basis points to 1.75%-2.00% in October, up from 40% on Tuesday, according to CME Group's FedWatch tool. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.
Trading recommendation: Buy 106.88 and take profit 107.35.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
