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Correlation of USDJPY and stock markets

Correlation of USDJPY and stock markets | 12 December 2019

12 December 2019, USD/JPY

Correlation of USDJPY and stock markets

USDJPY trading plan:

We are expecting the continuation of the bullish rally in the stock markets which will have a positive impact on the value of this currency pair. The Federal Open Market Committee left its benchmark rate unchanged in the range of 1.5% to 1.75%. Members of the rate-setting committee cut their 2020 median forecast for interest rates to 1.6% from a previous estimate of 1.9%, indicating rates will remain on hold next year. The central bank maintained its outlook on U.S. economic growth, forecasting growth of 2.2% in 2019 and 2.0% in 2020. Growth for 2021 and 2021 was also left unchanged at 1.9% and 1.8% respectively. This is a positive signal for the stock markets!

Trading recommendation: Buy 108.55 and take profit 109.22.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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