28 April 2020, USD/JPY
USDJPY trading plan:
The bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. The Federal Reserve has already announced a raft of measures to lessen the economic blow from the COVID-19 pandemic. U.S. equities hit the highest in almost seven weeks as states including Florida took steps toward easing restrictions. Investors are hoping the worst may be over for the world economy as more countries allow businesses to re-open. S&P 500 is on track for its best month since 1987, after trillions of stimulus dollars helped U.S. equities claw back much of the ground lost since the COVID-19 crisis brought the economy to a grinding halt.
Trading recommendation: Buy 107.10 and take profit 107.50.
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