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Correlation of the #SP500 and USDJPY

Correlation of the #SP500 and USDJPY | 19 April 2019

19 April 2019, USD/JPY

USDJPY trading plan:

Positive statistics from the United States will have a positive impact on the value of USDJPY. The Commerce Department said on March retail sales surged 1.6 percent. That was the biggest increase since September 2017 and followed an unrevised 0.2 percent drop in February. Receipts at clothing stores shot up 2.0 percent, the largest increase since last May. There were also increases in sales at furniture outlets, electronics and appliances shops, and food and beverage stores. Online and mail-order retail sales increased 1.2 percent last month. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 111.83 and take profit 112.15.

David Johnson
Analyst of «FreshForex» company
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