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The negative factor for the dollar

The negative factor for the dollar | 30 June 2020

30 June 2020, USD/JPY

The negative factor for the dollar

USDJPY trading plan:

The total number of global Covid-19 cases has now topped the 10.3 million mark, with more than 506,000 deaths recorded globally. United States continues to be hard hit, accounting for over a quarter of all cases. A number of the more populous states, including California, Texas and Florida, have had to curtail the opening of a number of businesses, as cases nationwide soar to record levels. This is a negative factor for the dollar. In May, pending home contracts soared 43.3% in the populous South. They jumped 56.2% in the West and increased 44.4% in the Northeast. Contracts rose 37.2% in the Midwest. This is a positive signal for the American economy.

Trading recommendation: range 107.33 -108.05.

David Johnson
Analyst of «FreshForex» company
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