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Correlation between USDJPY and S&P500

Correlation between USDJPY and S&P500 | 04 November 2019

04 November 2019, USD/JPY

Correlation between USDJPY and S&P500

USDJPY trading plan:

We are expecting a bullish rally in this currency pair today. USDJPY and S&P500 have a direct correlation. Traders increase long positions on the U.S. stock market. About 75% of the 356 S&P 500 companies that have reported so far have beaten profit estimates, according to Bloomberg data. The S&P 500 posted 41 new 52-week highs and 2 new lows. China's Vice Premier Liu He had a phone call with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Friday where the two sides conducted “serious and constructive” discussions on “core” trade points.

Trading recommendation: Buy 108.05 and take profit 108.50.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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