05 Februari 2020, USD/JPY
USDJPY trading plan:
We are expecting a bullish rally on the U.S. stock market, which will have a positive impact on the value of USDJPY. The People's Bank of China said it will inject a total of 1700 billion yuan into the money market. The People's Bank of China is likely to lower its key lending rate - the loan prime rate - on Feb. 20, and cut banks' reserve requirement ratios in the coming weeks. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 11% to 16. This is a positive signal for the stock market!
Trading recommendation: Buy 109.35 and take profit 109.61.