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Correlation between USDJPY and DJI30

Correlation between USDJPY and DJI30 | 22 June 2021

22 June 2021, USD/JPY

Correlation between USDJPY and DJI30

USDJPY trading plan:

The Dow completing its strongest session in over three months as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic. That was a stark reversal from last week, when the Fed’s hawkish signals on monetary policy sparked a round of profit taking that wiped out value stocks’ lead over growth this month and triggered the worst weekly performance for the Dow. Advancing issues outnumbered declining ones on the NYSE by a 2.86-to-1 ratio. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 110.20 and take profit 110.60.

David Johnson
Analyst of «FreshForex» company
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