Correlation between the gold and the Japanese yen | 23 يوليو 2020
23 يوليو 2020, USD/JPY
USDJPY trading plan:
Good and bad news. A bullish rally in the gold market signals the development of a downtrend. Gold and the Japanese yen are correlated. The record inflows into gold-backed exchange-traded funds they have a positive impact on the price of gold. The report from the US National Association of Realtors showed house prices rising to an all-time high last month, confirmed a shift toward bigger homes and properties away from urban centers as companies allow employees flexibility to work from home because of the COVID-19. This is positive news for the dollar!
Trading recommendation: range 106.74 -107.45.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
