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Correlation of USDJPY and U.S. stock market

Correlation of USDJPY and U.S. stock market | 02 January 2020

02 January 2020, USD/JPY

USDJPY trading plan:

We are expecting a continuation of the bullish rally in the stock markets, which will have a positive impact on the value of USDJPY. For the bulls, the coming year may still have a positive start from the phase one of the U.S.-China trade deal, which, according to a tweet by President Donald Trump on Tuesday, will be signed on Jan. 15. Opinion polls and bookmakers give President Donald Trump an even chance of re-election, something that would pave the way for another four years in which trade and fiscal policy are the cardinal factors for market developments. This is a positive signal for the stock markets!

Trading recommendation: Buy 108.50 and take profit 108.95.

David Johnson
Analyst of «FreshForex» company
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