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Correlation between USDJPY and #SP500

Correlation between USDJPY and #SP500 | 14 January 2020

14 January 2020, USD/JPY

Correlation between USDJPY and #SP500

USDJPY trading plan:

A bullish rally in the U.S. stock market will have a positive impact on the value of USDJPY. U.S. equities rose to records, led by shares of technology companies. Apple and Microsoft pushed the S&P 500 to all-time intraday highs. President Donald Trump has said the U.S. and China will sign the accord on Wednesday. The U.S. in August first formally labeled China a currency-manipulator, a move that further escalated the trade war with Beijing after the country’s central bank allowed the yuan to fall in retaliation to new U.S. tariffs.

Trading recommendation: Buy 110.01 and take profit 110.38.

David Johnson
Analyst of «FreshForex» company
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