22 January 2020, USD/JPY
USDJPY trading plan:
We are expecting a bullish rally on the stock markets that will have a positive impact on the value of USDJPY. Asian stock markets are showing an uptrend today. Hong Kong’s Hang Seng Index climbed 0.9%, Japan’s Nikkei 225 advanced 0.55%. South Korea’s KOSPI gained 0.7% after the Bank of Korea said Wednesday the country’s economy grew 1.2% on a seasonally adjusted basis in the fourth quarter as compared with three months earlier. That was the fastest expansion since the third quarter of 2017.
Trading recommendation: Buy 109.95 and take profit 110.30.