The correlation between USDJPY and the stock markets | 03 June 2020

03 June 2020, USD/JPY

USDJPY trading plan:

We are expecting an uptrend to develop. Gold was down on Wednesday morning in Asia with increased investor optimism over the global economic recovery from the COVID-19 virus as countries continue to loosen lockdowns and restart their economies. This is a positive signal for USDJPY. The European Central Bank is expected to increase its 750 billion euro Pandemic Emergency Purchase Program. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 108.55 and take profit 108.90.

David Johnson
Analyst of «FreshForex» company
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