The bullish rally on the U.S. stock market | 04 Junio 2020
04 Junio 2020, USD/JPY
USDJPY trading plan:
A bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. ADP reported that private payrolls fell by a net 2.76 million in the month to mid-May, much less than the 9 million figure expected by traders. The signs the worst of the Covid-19 pandemic's hit to the economy may be over following better-than-feared labor market and services data. The ADP upbeat economic reports stoked investor hopes of a quicker economic recovery, underpinning cyclical sectors like financials and industrials.
Trading recommendation: Buy 108.97 and take profit 109.32.
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.
