Dollar yen forex forecast USDJPY today 11/06/2019
D. Trump criticizes the US Federal Reserve and expresses desire to negotiate with China on trade issues.
On the one hand, it is bad for the currency pair, as expectations the Federal Reserve will reduce to exert pressure on the value of the dollar interest rates. On the other hand, we will see a continuation of the bullish rally in the stock markets, which in turn could have a pair USDJPY, as the pair has a strong correlation with the equity markets. In this regard, trade: buy or sell? Traders should buy USJPY, as the upward trend in the stock markets will have a strong support for the pair.
USD / JPY recommendation: Buy 108.40 / 108.25 and take profit 109.00.