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The bullish rally on the U.S. stock market

The bullish rally on the U.S. stock market | 04 Junio 2020

04 Junio 2020, USD/JPY

The bullish rally on the U.S. stock market

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.

David Johnson
Analyst of «FreshForex» company
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