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Bullish rally in stock markets!

Bullish rally in stock markets! | 05 February 2020

05 February 2020, USD/JPY

Bullish rally in stock markets!

USDJPY trading plan:

We are expecting a bullish rally on the U.S. stock market, which will have a positive impact on the value of USDJPY. The People's Bank of China said it will inject a total of 1700 billion yuan into the money market. The People's Bank of China is likely to lower its key lending rate - the loan prime rate - on Feb. 20, and cut banks' reserve requirement ratios in the coming weeks. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 11% to 16. This is a positive signal for the stock market!

Trading recommendation: Buy 109.35 and take profit 109.61.

David Johnson
Analyst of «FreshForex» company
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