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Correlation between USDJPY and the U.S. stock market

Correlation between USDJPY and the U.S. stock market | 21 July 2020

21 July 2020, USD/JPY

Correlation between USDJPY and the U.S. stock market

USDJPY trading plan:

The bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. The Federal Reserve Board modified the Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations. The Board approved two new loan options to provide support to a broad set of nonprofit organizations that were in sound financial condition prior to the pandemic. The Main Street Lending Program was established with the approval of the Treasury Secretary and with $75 billion in equity provided by the Treasury Department from the CARES Act. This is a positive signal for the U.S. stock market.

Trading recommendation: Buy 107.12 and take profit 107.41.

David Johnson
Analyst of «FreshForex» company
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