The correlation between the USDJPY and S&P500 | 27 Agosto 2020
27 Agosto 2020, USD/JPY
USDJPY trading plan:
China is proposing to let U.S. regulators audit its state-owned enterprises in a concession aimed at solving their long-running accounting dispute, but would insist on redacting some information on national security grounds. The United States has long complained of lack of access to audit working papers for U.S.-listed Chinese companies. Washington earlier this month’s threatened measures to delist Chinese firms that fail to meet its auditing requirements. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.
Trading recommendation: Buy 105.60 and take profit 106.10.
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.
