19 May 2020, USD/JPY
USDJPY trading plan:
The bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. Early data from Moderna Inc's COVID-19 vaccine, the first to be tested in the United States, showed that it produced protective antibodies in a small group of healthy volunteers, the company said. The data comes from eight people who took part in a 45-subject safety trial that kicked off in March. The Moderna vaccine is one of more than 100 under development intended to protect against the novel COVID-19 that has infected more than 4.86 million people globally. The vaccine has gotten the green light to start the second stage of human testing. Last week, U.S. regulators gave the vaccine "fast-track" status to speed up the regulatory review.
Trading recommendation: Buy 107.25 and take profit 107.66.
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