USDJPY – Down
USDJPY trading plan:
China’s monetary policy will continue to be accommodative to support economic recovery, People’s Bank of China Governor Yi Gang. „This year, we face some downward pressures of growth due to COVID-19 and external shocks, and the monetary policy will continue to be accommodative to support economic recovery in aggregate sense,“ Yi said. Recent data suggested activity in the world’s second-largest economy is beginning to recover in some sectors after widespread COVID-19 lockdowns in April and early May, but headwinds persist. The PBOC has pledged to step up support for the slowing economy, but analysts say the room to ease policy could be limited by worries about capital outflows, as the U.S. Federal Reserve raises interest rates. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 135.33 and take profit 135.85.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
