The bullish rally on the U.S. stock market | 10 September 2020

10 September 2020, USD/JPY

The bullish rally on the U.S. stock market

USDJPY trading plan:

The Republican faction of the Senate of the US Congress presented a new version of the bill, providing for the application of further measures to stimulate the growth of the national economy in a pandemic. The total amount of funding for the measures included in the bill is about $ 500 billion. The document involves the allocation of another $ 105 billion to support schools in connection with the spread of the new COVID. About $ 31 billion for the development of vaccines from him, $ 16 billion for medical tests due to the pandemic, as well as the allocation of $ 300 a week to everyone in need until the end of the year in federal unemployment benefits. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 106.00 and take profit 106.37.

David Johnson
Analyst of «FreshForex» company
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