21 Abril 2020, USD/JPY
USDJPY trading plan:
A Chicago Federal Reserve measure of the national economy plunged to recessionary levels in March, a broad and swift turnaround from growth that had been well above trend just weeks before. This is negative news for the dollar. Traders are also monitoring news that lockdowns in some countries are being eased, and the COVID-19 death toll in New York as well as other parts of the world is decreasing. The U.S. Congress said overnight that it is close to agreeing on a new spending package to help with the virus’ economic impact. This is a positive signal for the stock markets and USDJPY.
Trading recommendation: range 107.15 -107.80.