The bullish rally in the stock markets | 09 ديسمبر 2019
09 ديسمبر 2019, USD/JPY
USDJPY trading plan:
The bullish rally in the stock markets will have a positive impact on the value of USDJPY, as the currency pair correlates with the American index #SP500. Friday's rally recovered the sizable losses suffered on Nov. 29, Monday and Tuesday. Ten of the 11 S&P 500 sectors were higher. The catalyst was a better-than-expected jobs report from the Labor Department that showed a 266,000 increase in payroll employment, while the U.S. unemployment rate fell to 3.5%. Average hourly earnings rose 0.2%, while year over year they are up 3.1%.
Trading recommendation: Buy 108.47 and take profit 108.97.
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.
