The correlation between USDJPY and the stock markets | 21 يناير 2020
21 يناير 2020, USD/JPY
USDJPY trading plan:
We are expecting a bullish rally on the stock markets that will have a positive impact on the value of USDJPY. The Bank of Japan kept monetary policy steady and nudged up its economic growth forecasts. This is a positive signal for stock markets! The BOJ kept its short-term interest rate target at -0.1% and a pledge to guide 10-year government bond yields around 0%. The BOJ also signaled cautious optimism over the global economy after the United States and China agreed on a preliminary deal to defuse their bitter trade war.
Trading recommendation: Buy 109.90 and take profit 110.33.
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.
