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Correlation of USDJPY and #SP500

Correlation of USDJPY and #SP500 | 16 December 2019

16 December 2019, USD/JPY

Correlation of USDJPY and #SP500

USDJPY trading plan:

We are expecting the uptrend to develop today. The U.S. and China said they agreed to the details of the first phase of a broader trade agreement in a move that will see the U.S. reduce tariffs. Trump agreed to reduce some existing U.S. tariffs, halving 15% duties on $120 billion of imports but maintaining a 25% levy on some $250 billion of Chinese goods. He said he would also delay new import taxes set to take effect on Sunday on $160 billion of products such as smartphones and toys. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 109.30 and take profit 109.79.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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