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The negative signal for the U.S. currency

The negative signal for the U.S. currency | 01 April 2020

01 April 2020, USD/JPY

The negative signal for the U.S. currency

USDJPY trading plan:

The Federal Reserve will increase the supply of dollars in the interbank market. This is a negative signal for the U.S. currency. The FIMA Repo Facility will allow FIMA account holders, which consist of central banks and other international monetary authorities with accounts at the Federal Reserve Bank of New York, to enter into repurchase agreements with the Federal Reserve. In these transactions, FIMA account holders temporarily exchange their U.S. Treasury securities held with the Federal Reserve for U.S. dollars, which can then be made available to institutions in their jurisdictions.

Trading recommendation: Sell 107.93 and take profit 107.20.

David Johnson
Analyst of «FreshForex» company
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