03 октября 2019, USD/JPY
USDJPY trading plan:
We are expecting a bullish rally today. The 2-Year yield fell to 1.468%, approaching a two-year low of 1.428%, after a weak U.S. private sector jobs report depressed boosted expectations that the Federal Reserve will cut interest rates this month. Traders see a 75% chance the Fed will cut rates by 25 basis points to 1.75%-2.00% in October, up from 40% on Tuesday, according to CME Group's FedWatch tool. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.
Trading recommendation: Buy 106.88 and take profit 107.35.
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