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Bullish rally on the U.S. stock market

Bullish rally on the U.S. stock market | 01 December 2021

01 December 2021, USD/JPY

USDJPY trading plan:

The S&P 500 is up 21.6% so far this year and remains near record highs. The S&P has notched a positive return in December 74% of the time since 1928, more than in any other month, according to data from Bespoke Investment Group. December's gains tend to be even more positive when the S&P 500 has a strong first 11 months of the year. Since 1950, the index has gained an average of 1.7% in December when the S&P 500 has climbed at least 20% in the rest of the year, compared with an average of 1.5% for December overall. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 113.35 and take profit 114.00.

David Johnson
Analyst of «FreshForex» company
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