05 Juni 2019, USD/JPY
USDJPY trading plan:
Asian markets rose following an overnight rally on Wall Street. This is a good signal for the U.S. stock market and USD JPY, which has a correlation with the shares. The gains in Asian stock market came after following comments by U.S. Federal Reserve Chairman Jerome Powell that signaled the central bank was open to easing monetary policy to support the economy. U.S. Treasury Secretary Steven Mnuchin is set to meet with the People’s Bank of China governor Yi Gang during the Group of 20 gathering of finance ministers and central bankers in Japan. This is a positive signal for the stock markets.
Trading recommendation: Buy 107.89 and take profit 108.33.