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Correlation between USDJPY and #SP500

Correlation between USDJPY and #SP500 | 17 October 2019

17 October 2019, USD/JPY

Correlation between USDJPY and #SP500

USDJPY trading plan:

The bullish rally in the stock markets will have a positive impact on the value of the currency pair USDJPY. The Federal Reserve is pursuing a stimulating monetary policy, which is a positive factor for stock markets. Lower interest rates and the purchase of short-term bonds will have a positive impact on the value of corporate shares. The Federal Reserve buys three billion dollars worth of bonds every day. "FED printing press" has always had a positive impact on the stock market. We are expecting the U.S. stock index #SP500 to rise to the level of 3010 today.

Trading recommendation: Buy 108.57 and take profit 109.00.

TRADE METALS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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