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Correlation between USDJPY and the US stock market

Correlation between USDJPY and the US stock market | 07 October 2021

07 October 2021, USD/JPY

USDJPY trading plan:

U.S. stock indexes rose, recouping early losses and turning positive as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December, a move that would head off a historic default with a heavy economic toll. McConnell’s offer could provide an off-ramp to a months-long standoff between President Joe Biden’s Democrats and McConnell’s Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.

Investment idea: buy 111.20 and take profit 111.70.

David Johnson
Analyst of «FreshForex» company
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