USDJPY and stock market | 12 Abril 2019
12 Abril 2019, USD/JPY
USDJPY trading plan:
The start of the corporate reporting season in the US will have a strong impact on the course of trading. The Japanese yen is the funding currency in carry trade transactions - trends in equity markets have a high impact on USDJPY. The first reports for the quarter will be published by banks. Investors expect moderately positive results. Traders are selling "safe assets"- we see sales of gold, Japanese yen, Swiss franc. This process indicates a bullish trend in the U.S. stock market. USDJPY will test the psychological level of 112.00.
Trading recommendation: Buy 111.70 and take profit 112.15.
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.
