Good and bad news | 10 Mei 2021

USDJPY trading plan:

Good and bad news. The Dow and S&P 500 hit record closing highs on Friday while registering gains for the week, and the Nasdaq recovered after U.S. jobs data eased concerns over prospects for rising rates. This is a good signal for the stock market and USDJPY, which has a correlation with the shares. A bullish rally in the gold market will support the Japanese yen as the assets are correlated. Gold had its best week in six months as shockingly low U.S. payrolls numbers for April, coupled with the yellow metal’s belated catch up to inflationary trends, gave it a gain 3.5% on the week.

Investment idea: range 108.55 -109.45.