Correlation between USDJPY and stocks markets

14 October 2021, USD/JPY

Correlation between USDJPY and stocks markets

USDJPY trading plan:

The Bank of Japan must maintain its massive stimulus even when the economy rebounds from the pandemic's hit, board member Asahi Noguchi said. In a speech, Noguchi sounded cautiously optimistic on Japan's economic outlook, saying its recovery will become clearer from the year-end onwards as vaccine rollouts help to ease the effects of the COVID-19 pandemic. But Japan's low trend inflation means a re-opening of the economy likely will not trigger a spike in wages and inflation seen in other advanced nations, he said. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 113.20 and take profit 113.70.

David Johnson
Analyst of «FreshForex» company
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