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Correlates with the stock markets

Correlates with the stock markets | 17 May 2019

17 May 2019, USD/JPY

Correlates with the stock markets

USDJPY trading plan:

Three days in a row the growth of the U.S. stock market is observed - this is a positive factor of USDJPY, as the currency pair correlates with the stock markets. The USA labor market is strong, with the unemployment rate near a 50-year low of 3.6%. The robust job market is supporting the economy as the boost from the White House's $1.5 trillion tax cut package fades and President Donald Trump's escalating trade war with China disrupts supply chains at factories, which are already struggling with an inventory bloat that has cut production. We can talk about the technical correction.

Trading recommendation: Buy 109.50 and take profit 110.00.

David Johnson
Analyst of «FreshForex» company
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