Correlation between USDJPY and #SP500 | 16 Abril 2021

USDJPY trading plan:

U.S. jobless claims fell to 576,000 last week from 769,000 the prior week, a much larger decline the 700,000 expected. The US Commerce Department said on Thursday that retail sales rose 9.8% last month. That was well above economists’ forecast for a 5.9% rise. The retail sales control group – which has a larger impact on U.S. GDP – rose 6.9% beating expectations for a 6.3% rise. The 10-year Treasury yields fell sharply to its lowest level since Mar. 11. The households have amassed about $1.9 trillion in excess savings. That, together with a recovering labor market, is expected to underpin consumer spending this year. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 108.30 and take profit 108.70.