05 Marzo 2020, USD/JPY
USDJPY trading plan:
We are expecting a bullish rally on the Asian stock markets, which will have a positive impact on the value of USDJPY. The Federal Reserve and Bank of Canada had both responded by cutting interest rates by 50 basis points, and markets in the euro zone are pricing in a 90% chance that the ECB will cut its deposit rate, now minus 0.50%, by 10 basis points next week. America’s service industries in February enjoyed the fastest growth in a year. A gauge of orders increased to the highest level since June 2018 and a measure of employment reached a seven-month high. This is a positive signal for stock markets.
Trading recommendation: Buy 107.20 and take profit 107.40.
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