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Correlation between USDJPY and the U.S. stock market

Correlation between USDJPY and the U.S. stock market | 22 June 2020

22 June 2020, USD/JPY

Correlation between USDJPY and the U.S. stock market

USDJPY trading plan:

Nearly half of U.S. states are still seeing daily increases in COVID-19 infections, especially Florida, Arizona and Texas, as business and social activities resume. Apple Inc. said it would re-close 11 stores in Florida, the Carolinas, and Arizona starting on Saturday and the Cruise Lines International Association announced a voluntary suspension of operations from U.S. ports until Sept. 15. The World Health Organization at a June 19 briefing also said that the COVID-19 pandemic has entered a “new and dangerous phase”. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Trading recommendation: Sell 107.00 and take profit 106.70.

David Johnson
Analyst of «FreshForex» company
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