Good news and bad news | 23 أبريل 2020

USDJPY trading plan:

Good news and bad news. The bullish rally in the U.S. stock market is a positive signal for USDJPY, as the instruments correlate with each other. “Our Country is starting to open for business again”, said Donald Trump. The U.S. House is expected to pass a $484 billion stimulus package later in this day. This factor will provide additional support to the stock market! The bullish rally in the precious metals market is negative news for USD JPY. Investors are increasing their long positions in the gold market. Investors remained optimistic for gold’s prospects. Bull’s next upside price objective is to produce a close above solid resistance at $1748.

Trading recommendation: range 107.40 -108.20.