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Correlation between USDJPY and stock markets

Correlation between USDJPY and stock markets | 15 July 2021

15 July 2021, USD/JPY

Correlation between USDJPY and stock markets

USDJPY trading plan:

The People's Bank of China said in a statement it was keeping the interest rate on 100 billion yuan worth of one-year medium-term lending facility loans to some financial institutions steady at 2.95% from previous operations. The PBOC said the fund injection was meant to "keep banking system liquidity reasonably ample" as many institutions still had mid- to long-term cash demand amid the tax payment season, according to an online statement. The PBOC had said in the RRR cut decision that it would some of the liquidity released to help financial institutions repay maturing MLF loans. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 109.50 and take profit 110.00.

David Johnson
Analyst of «FreshForex» company
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