Correlation between USDJPY and the U.S. stock market | 13 Agosto 2021

USDJPY trading plan:

The Federal Reserve will announce a plan to taper its asset purchases in September, according to a solid majority of investment funds. Since the release last week of a strong U.S. jobs report, which showed an unexpectedly sharp drop in the unemployment rate to 5.4% in July, a flurry of Fed officials have suggested the U.S. central bank might start reducing its $120 billion in monthly purchases of Treasuries and mortgage-backed securities sooner rather than later. The poll concluded the Fed will start with monthly reductions of $10 billion in its purchases of Treasuries and $5 billion in those of mortgage-backed securities. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 110.15 and take profit 110.70.