Bullish rally in the U.S. stock market | 04 Juli 2019

04 Juli 2019, USD/JPY

USDJPY trading plan:

Bullish rally in the U.S. stock market will have a positive impact on the value of USDJPY, as there is a correlation between the assets. The S&P 500 and the Nasdaq 100 index also finished at new highs. The rally was aided by another fall in interest rates. The Federal Reserve last month signaled it could ease monetary policy as early as its July 30-31 meeting, citing rising risks to the economy from the trade war between Washington and Beijing, and low inflation. The United States 10-Year yield fell to 1.95%. The yield has fallen 27% this year as investors have worried about slowing global and domestic economic growth. A decrease in bond yields always has a positive effect on the value of shares.

Trading recommendation: Buy 107.70 and take profit 108.05.

David Johnson
Analyst of «FreshForex» company
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