Correlation USDJPY and S&P500 | 08 Julio 2019
08 Julio 2019, USD/JPY
USDJPY trading plan:
Positive macroeconomic statistics from the United States will have a positive impact on the stock market. This is a positive signal for USDJPY, as the currency is correlated with S&P500. Nonfarm payrolls rose by 224000 in June, well above consensus expectations for 162000. The unemployment rate ticked up slightly to 3.7%, still at levels last seen 50 years ago. But that was explained as more people looking for jobs. The report showed strength in construction, manufacturing, finance, warehousing and distribution. We are expecting the bull rally to continue in the U.S. stock market!
Trading recommendation: Buy 108.00 and take profit 108.49.
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.
