A bearish rally in stock markets | 28 Februari 2020

28 Februari 2020, USD/JPY

A bearish rally in stock markets

USDJPY trading plan:

A bearish rally in stock markets has a negative impact on the value of USDJPY. The S&P index recorded four new 52-week highs and 97 new lows, while the Nasdaq recorded 23 new highs and 442 new lows. Money markets have boosted their bets on the prospect of more Federal Reserve interest rate cuts. The U.S. central bank cut rates three times last year. The coronavirus outbreak will challenge the Fed's view to keeping monetary policy on hold at least through 2020. This is a positive signal for stock markets!

Trading recommendation: range 108.55-109.30.

David Johnson
Analyst of «FreshForex» company
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