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The correlation between USDJPY and the stock market

The correlation between USDJPY and the stock market | 20 February 2020

20 February 2020, USD/JPY

The correlation between USDJPY and the stock market

USDJPY trading plan:

We are expecting a bullish rally in the stock markets, which will have a positive impact on the value of USDJPY. The northern Chinese province of Hebei has set up a special financing project worth 50 billion yuan with China Development Bank to help get the regional economy up and running again after coronavirus disruptions. Chinese banks are rushing to issue low-cost deposits via the interbank market to help fund companies that are fighting the coronavirus outbreak. A total of 26 banks are issuing negotiable certificate of deposits to raise roughly 17 billion yuan. This is a positive signal for stock markets!

Trading recommendation: Buy 111.29 and take profit 111.50.

David Johnson
Analyst of «FreshForex» company
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