Correlation between USDJPY and the US stock market | 29 اكتوبر 2020
29 اكتوبر 2020, USD/JPY
USDJPY trading plan:
The fading hopes of the U.S. Congress passing the latest stimulus measures before the country’s presidential election. President Donald Trump admitted that the measures were not likely to be passed before the Nov. 3 election, now less than a week away, as the chasm between the Republicans and Democrats over the measures’ price tag remains. The United States, which saw more than 500,000 cases over the past week, has seen record daily infections. This is a bad signal for the stock market and USDJPY, which has a correlation with the shares.
Trading recommendation: Sell 104.50 and take profit 104.20.
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.
