Investors buy U.S. stocks | 24 April 2019
24 April 2019, USD/JPY
USDJPY trading plan:
The U.S. stock index #SP500 is one step away from the historic high - a positive signal for USDJPY, which has a correlation with the shares. The Japanese yen is a funding currency carry trade that shows a fall in value during a bullish rally in equity markets. Investors buy U.S. stocks after the publication of positive financial statements. Profits of S&P 500 companies are expected to decline 1.3% in the first quarter, in what analysts say could be the first earnings contraction since 2016. However, forecasts have largely improved since the start of April.
Trading recommendation: Buy 111.73 and take profit 112.30.
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.
