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Investors buy U.S. stocks

Investors buy U.S. stocks | 24 April 2019

24 April 2019, USD/JPY

Investors buy U.S. stocks

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.

David Johnson
Analyst of «FreshForex» company
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