Inverse correlation between USDJPY and Gold | 19 Febrero 2021
19 Febrero 2021, USD/JPY
USDJPY trading plan:
Gold was down on Friday morning in Asia, hitting its lowest level in nearly three months and its worst week since late November 2020, with strengthening U.S. Treasury yields putting a dent in the non-yielding yellow metal’s appeal. Benchmark U.S. Treasury yields continued an upward trend, after hitting a near one-year peak. Meanwhile, Swiss customs data released on Thursday said that monthly gold exports to China and Hong Kong remained at record lows. This is positive news for USDJPY, as the currency pair has an inverse correlation with gold.
Investment idea: Buy 105.50 and take profit 105.95.
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.
