Correlation with the stock market | 26 April 2019

USDJPY trading plan:

The bullish trend in the U.S. stock market will have a positive impact on the value USDJPY, as the currency pair has a direct correlation with the stock market. Investors are actively buying American shares after the publication of positive financial results of the largest IT corporations. Facebook posted first-quarter earnings on the top and bottom lines, as well as user numbers, sending its shares more than 5% higher. Microsoft, meanwhile, rose 3%, taking its market cap in excess of $1 trillion, as the tech giant reported first-quarter results, which also hit both the top and bottom lines.

Trading recommendation: Buy 111.43 and take profit 111.85