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Correlation between USDJPY and stock markets

Correlation between USDJPY and stock markets | 19 August 2019

19 August 2019, USD/JPY

Correlation between USDJPY and stock markets

USDJPY trading plan:

We are expecting a bullish rally in the stock markets, which will have a positive impact on the USDJPY. The trade tensions eased a bit after President Donald Trump agreed to delay tariffs on many products, especially electronics and other consumer goods ahead of the holiday shopping season. U.S. Treasury prices were trading lower, lifting the yield on the benchmark 10-year note from three-year lows. This is a positive signal for the U.S. stock market. The Dow ended Friday up 307 points, or 1.2%. The Nasdaq Composite index climbed nearly 1.7%.

Trading recommendation: Buy 106.20 and take profit 106.68.

David Johnson
Analyst of «FreshForex» company
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