The correlation between USDJPY and the stock market | 27 Octubre 2020

27 Octubre 2020, USD/JPY

The correlation between USDJPY and the stock market

USDJPY trading plan:

Sell-offs in stock markets will have a negative impact on the value of USDJPY, as the currency pair correlates with stock markets. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin again failed to close major differences on a fresh package for a U.S. economy facing a renewed surge in Covid-19 cases. The lack of a deal and concern over rising infections saw the S&P 500 Index log its biggest drop in a month. There are over 43.4 million COVID-19 cases globally as of Oct. 27, according to Johns Hopkins University data. This is a negative signal for the stock markets.

Trading recommendation: Sell 104.85 and take profit 104.50.

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.