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USDJPY and stock market

USDJPY and stock market | 12 April 2019

12 April 2019, USD/JPY

USDJPY trading plan:

The start of the corporate reporting season in the US will have a strong impact on the course of trading. The Japanese yen is the funding currency in carry trade transactions - trends in equity markets have a high impact on USDJPY. The first reports for the quarter will be published by banks. Investors expect moderately positive results. Traders are selling "safe assets"- we see sales of gold, Japanese yen, Swiss franc. This process indicates a bullish trend in the U.S. stock market. USDJPY will test the psychological level of 112.00.

Trading recommendation: Buy 111.70 and take profit 112.15.

David Johnson
Analyst of «FreshForex» company
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