Correlation of Japanese yen and gold | 14 June 2019
14 June 2019, USD/JPY
USDJPY trading plan:
Negative macroeconomic statistics from the United States on retail sales and industrial production may cause a decrease in the value of USDJPY in the psychological level of 108.00. American households are cutting their spending. This is a negative factor for the retail sector! Industrial production has difficulties with export orders. An expensive dollar makes it harder for American exporters. Investors are buying gold this week. This is a positive signal for the Japanese yen, which has a correlation with the precious metal.
Trading recommendation: Sell 108.49 and take profit 108.00.
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.
