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The correlation between the USDJPY and S&P500

The correlation between the USDJPY and S&P500 | 22 July 2019

22 July 2019, USD/JPY

USDJPY trading plan:

Investment funds are increased sales of the Japanese yen. CFTC reports signal the maximum sales of the Japanese currency in the last 4 weeks. Bullish rally in the U.S. stock market will have a positive impact on the value of USDJPY. The largest American corporations pleased investors with positive financial results for the second quarter. The yield of 2-Year US government bonds fell below 1.825%. Bond yields are 0.55% lower than the Federal Reserve interest rate. Investors are expected Federal Reserve interest rates to fall on July 31. This is a positive factor for the stock market.

Trading recommendation: Buy 107.70 and take profit 108.29.

David Johnson
Analyst of «FreshForex» company
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