The Japanese yen is the funding currency | 25 Abril 2019

25 Abril 2019, USD/JPY

The Japanese yen is the funding currency

USDJPY trading plan:

The course of trading will depend on the mood of investors in the stock markets. The Japanese yen is the funding currency. Investors use the yen to Finance carry trade operations. USDJPY has a direct correlation with the U.S. stock index S&P500. The S&P 500 is 0.3% below its record high of 2,940.91 hit in late September. The index has rallied 17% this year. The tech-heavy Nasdaq set a fresh historical maximum! The S&P index recorded 47 new 52-week highs and one new low, while the Nasdaq recorded 84 new highs and 25 new lows.

Trading recommendation: Buy 112.10 and take profit 112.66

David Johnson
Analyst of «FreshForex» company
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