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Correlation between USDJPY and #SP500

Correlation between USDJPY and #SP500 | 19 July 2021

19 July 2021, USD/JPY

Correlation between USDJPY and #SP500

USDJPY trading plan:

Though worries about inflation hurt consumer sentiment this month, spending was likely to remain underpinned by record savings and rising wealth. U.S. households accumulated at least $2.5 trillion in excess savings during the pandemic. Starting this month through December, some households will receive income under the expanded Child Tax Credit program, which should help middle- and lower-income households to maintain spending. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 109.80 and take profit 110.25.

David Johnson
Analyst of «FreshForex» company
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