The inverse correlation between USDJPY and gold | 11 يونيو 2020

USDJPY trading plan:

A bullish rally in the gold market will have a negative impact on the value of USDJPY. The currency pair and the precious metal have an inverse correlation. The National Bureau of Economic Research declared earlier this week that the U.S. economy had entered a recession in February, bringing to an end the longest period of economic expansion in U.S. history. This is a positive signal for gold! Additional support for the precious metal will be provided by the monetary policy of the Federal Reserve. The Federal Reserve left its benchmark rate unchanged in the range of 0% to 0.25%.

Trading recommendation: Sell 107.10 and take profit 106.80.