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The bullish rally on the U.S. stock market

The bullish rally on the U.S. stock market | 20 July 2020

20 July 2020, USD/JPY

The bullish rally on the U.S. stock market

USDJPY trading plan:

The bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. Positive macroeconomic statistics from the United States are forcing investors to increase their long positions in the stock market. Housing starts increased 17.3% to a seasonally adjusted annual rate of 1.186 million units last month, the Commerce Department said. The percentage increase was the largest since October 2016. Data for May was revised up to a 1.011 million-unit pace from the previously reported 974,000. Builders reported increased demand for single-family homes in lower density markets, including small metro areas, rural markets and large metro suburbs.

Trading recommendation: Buy 107.01 and take profit 107.37.

David Johnson
Analyst of «FreshForex» company
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