09 Juni 2020, USD/JPY
USDJPY trading plan:
The bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. New York City, the epicenter of the pandemic, began to reopen on Monday, boosting hopes of a quicker economic recovery just as data showed the U.S. officially entered a recession in February, marking an end to its longest expansion on record. The S&P 500 posted 17 new 52-week highs and no new lows; the Nasdaq Composite recorded 76 new highs and no new lows. This is a positive signal for the stock market!
Trading recommendation: Buy 107.77 and take profit 108.33.