USDJPY – Down
USDJPY trading plan:
A bullish rally in emerging markets will have a positive impact on the USDJPY currency pair. Investors buy corporate shares in Brazil, Turkey, Taiwan, India, Russia. This is a strong signal for traders, which indicates a high interest in “high-yield assets”. The Japanese yen is the funding currency in carry trade operations. The value of the Japanese yen decreases during periods of rapid growth of stock markets. Unrest in Hong Kong also received some attention. Beijing is considering replacing Hong Kong’s chief executive, Carrie Lam, by March. Traders are expecting U.S. President Donald Trump and Chinese leader Xi Jinping to sign the first phase of a trade agreement at the Asia-Pacific Economic Cooperation summit in Chile in mid-November.
Trading recommendation: Buy 108.30 and take profit 108.95.
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