The Japanese yen is the funding currency | 16 اكتوبر 2019
16 اكتوبر 2019, USD/JPY
USDJPY trading plan:
The course of trading in this currency pair is determined by the dynamics of stock markets. S&P500 rose 1.1% on Tuesday as strong earnings from JPMorgan, UnitedHealth and Johnson & Johnson allayed concerns about the fallout from a prolonged U.S.-China trade war on Corporate America. The S&P index recorded 16 new 52-week highs and no new lows. The Japanese yen is the funding currency in carry trade operations. A bullish rally on the U.S. stock market will have a positive impact on the value of the USDJPY currency pair.
Trading recommendation: Buy 108.55 and take profit 108.94.
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.
