Correlation between the USDJPY and gold | 29 Juni 2020
29 Juni 2020, USD/JPY
USDJPY trading plan:
A bullish rally in the gold market will negatively affect the value of USDJPY, as assets have an inverse correlation. Globally, India, South Korea, United States and New Zealand have all reported higher incidences of the Covid-19 in recent weeks. This is a positive signal for gold! The outlook for a global economic recovery has worsened or at best stayed about the same over the past month, according to a majority of economist’s polls, with the ongoing recession expected to be deeper than predicted in May.
Trading recommendation: Sell 107.25 and take profit 106.80.
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.
