Welcome trading legends,
In this blog, we’ll be trading the USD/JPY asset using the signals provided by the Tools Trades website and the IQ Option broker. Be sure to stick to the end of the video as I’ll be sharing a special promo code with you.
Allow me to explain why I’m trading this particular asset.
US stock markets pulled back last week after the Federal Reserve’s March interest rate decision injected a fresh round of selling across US government bonds, pushing the Treasury curve higher along short- and long-dated issuances. The 10-year Treasury yield – a closely watched benchmark tenor watched by traders – moved higher by nearly 6%.
The S&P 500 and Dow Jones Industrial Average (DJIA) fell 0.77% and 0.46% last week, respectively. Technology stocks pulled back, with the Nasdaq 100 Index (NDX) giving up 0.54% while the small-cap Russell 2000 index shed 2.77%. Despite the weekly decline, US equity indexes remain within striking distance of all-time highs. Will investors may go into the week with their eyes set on the buy button?
The DailyFX Economic Calendar is devoid of high-impact events for the week ahead across the Asia-Pacific region, which will likely leave APAC equity markets and currencies subject to broader risk trends. Still, Monday will see Japan release final readings on its coincident and leading economic indexes, with analysts expecting the figures to cross the wires at 91.7 and 99.1, respectively.
The Japanese Yen will likely be unaffected by today’s economic data considering the outcomes almost certainly mean little for the direction of monetary policy. Instead, traders likely spent the weekend digesting last week’s Bank of Japan policy tune-up. The Nikkei 225 fell after the central bank announced that it will only purchase Exchange-Traded Funds (ETFs) that track the Topix equity index.
Moreover, the BOJ increased the range by which it authorizes long-term rates to gyrate, increasing it from 0.20% to 0.25%. Policymakers will still allow temporary fluctuations outside of that range. While these changes appear minor, the Bank may be laying the groundwork for what it likely sees as a prolonged fight to achieve its goals. Nevertheless, these adjustments don’t indicate a shift away from its broadly dovish policy stance. This likely leaves the Yen looking elsewhere for direction, at least in the short-term.
This all made a nice day for a Forex Signal from Tools Trades.
As you can see the signals from the Tools Trades website have worked!
The promo code that you see on the screen will give you more trading signals if you use them on the Tools Trades website.
Be sure to watch my other videos on the channel and read the blog page so you learn more. If you want more videos like this be sure to like and subscribe. Thanks for watching and
May the Forex be with you.
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