09 Desember 2019, USD/JPY
USDJPY trading plan:
The bullish rally in the stock markets will have a positive impact on the value of USDJPY, as the currency pair correlates with the American index #SP500. Friday's rally recovered the sizable losses suffered on Nov. 29, Monday and Tuesday. Ten of the 11 S&P 500 sectors were higher. The catalyst was a better-than-expected jobs report from the Labor Department that showed a 266,000 increase in payroll employment, while the U.S. unemployment rate fell to 3.5%. Average hourly earnings rose 0.2%, while year over year they are up 3.1%.
Trading recommendation: Buy 108.47 and take profit 108.97.