USDJPY – Down
USDJPY trading plan:
Softer than expected U.S. inflation data buoyed investors’ faith that twin rebounds in stocks and bonds will persist in a year of deep losses for both asset classes. Bear markets in both have maximized losses in portfolios this year as rate hikes from the Federal Reserve sapped appetite for risk, and some investors have met recent rebounds in stocks and bonds with skepticism. The S&P 500 is now up about 15% from its mid-June lows, though still down 12% year-to-date. Ten-year Treasury yields, which move inversely to prices, have fallen about 70 basis points from their June peak. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 132.36 and take profit 133.30.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
