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The correlation between USDJPY and S&P500

The correlation between USDJPY and S&P500 | 10 March 2020

10 March 2020, USD/JPY

The correlation between USDJPY and S&P500

USDJPY trading plan:

The Open Market Trading Desk at the Federal Reserve Bank of New York will increase the amount offered in daily overnight repo operations from at least $100 billion to at least $150 billion. In addition, the Desk will increase the amount offered in the two-week term repo operations on Tuesday, March 10, 2020 and Thursday, March 12, 2020 from at least $20 billion to at least $45 billion. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 104.50 and take profit 105.00.

David Johnson
Analyst of «FreshForex» company
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