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The correlation of gold and the Japanese yen

The correlation of gold and the Japanese yen | 13 Agosto 2019

13 Agosto 2019, USD/JPY

The correlation of gold and the Japanese yen

USDJPY trading plan:

We're expecting the bearish trend to continue. The first factor is the bull rally in the gold market. The Japanese yen and the precious metal correlate. Gold today tested the maximum for the last six years. The second factor is the decline in inflation in the United States. The new inflation report for July will force traders to sell the U.S. dollar. We are expecting the publication of negative data from the United States today. The businesses have had difficulty raising prices despite increasing tariffs and labor costs.

Trading recommendation: Sell 105.65 and take profit 105.11.

David Johnson
Analyst of «FreshForex» company
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