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Correlation between USDJPY and #SP500

Correlation between USDJPY and #SP500 | 07 April 2021

07 April 2021, USD/JPY

Correlation between USDJPY and #SP500

USDJPY trading plan:

Vaccines are now helping to boost U.S. economic activities, while we also have largesse from the government spending and easy money from the central bank. This is a good signal for the stock market and USDJPY, which has a correlation with the shares. Investor concerns about higher borrowing costs leading to runaway inflation also eased, leading to subsiding bond yields as traders pull their more aggressive positioning for U.S. Federal Reserve policy tightening. The U.S. released February’s JOLTs job openings report, which showed that vacancies rose to a two-year high of 7.367 million.

Investment idea: buy 109.60 and take profit 110.50.

David Johnson
Analyst of «FreshForex» company
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