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The Japanese yen is the funding currency

The Japanese yen is the funding currency | 09 April 2019

09 April 2019, USD/JPY

The Japanese yen is the funding currency

USDJPY trading plan:

The Japanese yen is the funding currency in carry trade transactions - trends in equity markets have a high impact on USDJPY. After a slight correction, investors continue to buy shares. Traders are waiting for the latest corporate reports in the USA. The reporting season starts on Friday 12 April. The recent run of gains in U.S. stocks has taken the S&P 500 within 2% of its record closing high hit in September 2018, supported by the Federal Reserve's decision to hold off on interest rate hikes in 2019. Investors are pinning their hopes on the USA-China trade deal. The S&P500 may test the level of 2910.

Trading recommendation: Buy 111.38 and take profit 111.92.

David Johnson
Analyst of «FreshForex» company
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