Positive macroeconomic statistics from the United States | 19 February 2020

19 February 2020, USD/JPY

USDJPY trading plan:

We are expecting a bullish rally in the U.S. stock markets, which will have a positive impact on the value of USDJPY. Positive macroeconomic statistics from the United States will have a positive impact on the value of the stocks. In January, the average number of new home orders per community surged 34% to the highest level for the month since the housing recovery began in 2012. Chinese state television quoted President Xi Jinping as saying China could still meet its economic growth target for 2020. This is a positive signal for stock markets!

Trading recommendation: Buy 109.94 and take profit 110.20.

David Johnson
Analyst of «FreshForex» company
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