Good signal for the stock market and USDJPY | 21 May 2019

21 May 2019, USD/JPY

Good signal for the stock market and USDJPY

USDJPY trading plan:

Positive macroeconomic statistics from Japan will have a positive impact on the value of the Japanese yen. Gross domestic product expanded an annualized 2.1% in the three months through March. Investors expected a decrease of 0.2%.The positive dynamics is caused by the increase in public spending. The Japanese government fears a recession and increases spending. Economic stimulation is now observed in many countries. This is a good signal for the stock market and USD JPY, which has a correlation with the shares. Big buys USDJPY should not wait today.

Trading recommendation: Buy 110.00 and take profit 110.60.

David Johnson
Analyst of «FreshForex» company
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