Correlation between USDJPY and stock markets | 01 Junio 2021

USDJPY trading plan:

Asian equity markets hit a one-month peak on Tuesday, buoyed by the global stock rally. The world's recovery from the COVID-19 pandemic remains patchy with exports reviving but broader economic activity still dampened by new measures to contain fresh outbreaks. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.4%, hitting the highest in a month and taking total gains made so far this year to nearly 7%. World equities have risen for a fourth straight month as ample liquidity supported risk taking despite worries about higher inflation. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 109.47 and take profit 109.90.