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The bullish rally on the U.S. stock market

The bullish rally on the U.S. stock market | 27 July 2021

27 July 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. Continued optimism about second-quarter earnings has helped offset recent concerns over the market impact of the Delta variant of COVID-19. The vast majority of second-quarter earnings so far have beaten traders’ expectations. Advancing issues outnumbered declining ones on the NYSE by a 1.22-to-1 ratio. The S&P 500 posted 46 new 52-week highs and no new lows. This is a strong signal!

Investment idea: buy 110.00 and take profit 110.50.

David Johnson
Analyst of «FreshForex» company
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