Correlation between USDJPY and the U.S. stock market | 07 ديسمبر 2020
07 ديسمبر 2020, USD/JPY
USDJPY trading plan:
U.S. Commerce Department said the trade gap rose 1.7% to $63.1 billion in October. Data for September was revised to show a $62.1 billion deficit instead of $63.9 billion as previously reported. Imports increased 2.1% to $245.1 billion. Goods imports gained 2.1% to $207.8 billion. Exports accelerated 2.2% to $182.0 billion. Goods exports jumped 3.0% to $126.3 billion. The trade could contribute to economic growth in the fourth quarter. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.
Investment idea: Buy 104.10 and take profit 104.50.
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.
