China kept its benchmark lending rate | 20 Julio 2021
20 Julio 2021, USD/JPY
USDJPY trading plan:
China kept its benchmark lending rate for corporate and household loans unchanged at its monthly fixing. The one-year loan prime rate was kept at 3.85%. The five-year LPR remained at 4.65%. The rate was unchanged for the 15th straight month. The People’s Bank of China lowered the amount of cash that banks must hold as reserves, releasing around 1 trillion yuan in long-term liquidity to underpin its post-COVID economic recovery that was starting to lose momentum. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 109.32 and take profit 109.92.
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.
