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Correlation between USDJPY and #SP500

Correlation between USDJPY and #SP500 | 05 May 2020

05 May 2020, USD/JPY

Correlation between USDJPY and #SP500

USDJPY trading plan:

A bullish rally in the U.S. stock market will have a positive impact on the value of USDJPY. Investors are increasing their long positions in “high-yield” assets. Global bond yields have slumped. This is a positive signal for the stock market! We are seeing a decline in the coronavirus epidemic which will have a positive impact on the stock markets. Spain beginning Monday to gradually relax its lockdown regime after weeks of confinement, the country’s daily coronavirus deaths and new cases hovered at lows last seen before the curbs were introduced in early March. U.K. Reports 288 New Coronavirus Deaths, Fewest Since End of March. N.Y. Cases at Mid-March Low.

Trading recommendation: Buy 106.49 and take profit 106.85.

David Johnson
Analyst of «FreshForex» company
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