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The negative signal for USDJPY

The negative signal for USDJPY | 26 February 2020

26 February 2020, USD/JPY

The negative signal for USDJPY

USDJPY trading plan:

Asian shares fell on Wednesday. This is a negative signal for USDJPY. The World Health Organization says the epidemic has peaked in China, but concern that its spread is accelerating in other countries is likely to keep investors on edge. Japanese Prime Minister Shinzo Abe on Wednesday called for sports and cultural events to be scrapped or curtailed for two weeks as the country battles to stem coronavirus contagion amid mounting concerns the 2020 Tokyo Olympics could be canceled. MSCI World, a market cap weighted stock market index of 1,644 stocks from companies throughout the world, has seen its total value fall by $3 trillion to $42.98 trillion over the past four trading sessions.

Trading recommendation: Sell 110.45 and take profit 110.15.

David Johnson
Analyst of «FreshForex» company
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