The bullish rally on the U.S. stock market | 29 June 2021

29 June 2021, USD/JPY

The bullish rally on 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, since the assets are correlated with each other. Big tech companies including Microsoft Corp, Apple Inc, Amazon.com Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq. The stocks should continue their near-term climb as investors wait the new earnings season, in which year-over-year earnings growth of S&P 500 companies is expected to top 60%. The S&P 500 posted 29 new 52-week highs and no new lows. This is a positive signal for the stock market!

Investment idea: buy 110.44 and take profit 110.93.

David Johnson
Analyst of «FreshForex» company
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