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Correlation between USDJPY and stock markets

Correlation between USDJPY and stock markets | 29 August 2019

29 August 2019, USD/JPY

USDJPY trading plan:

U.S. Treasury Secretary Steven Mnuchin said on Wednesday the United States does not intend to intervene in currency markets for now. "Situations could change in the future but right now we are not contemplating an intervention" said Steven Mnuchin. This is a positive signal for the dollar! Yields on 30-year Treasuries have hit a record low as investors scramble for the safety of government debt. We're expecting the bull rally in the stock markets to continue. Declining government bond yields have traditionally had a positive impact on stock markets. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 105.99 and take profit 106.28.

David Johnson
Analyst of «FreshForex» company
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