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Correlation between USDJPY and stock markets

Correlation between USDJPY and stock markets | 17 March 2020

17 March 2020, USD/JPY

USDJPY trading plan:

The Federal Reserve regulatory agencies released a statement encouraging banks to use the Federal Reserve's "discount window" so that they can continue supporting households and businesses. The discount window provides short-term loans to banks and plays an important role in supporting the liquidity and stability of the banking system. By providing ready access to funding, the discount window helps depository institutions manage their liquidity risks efficiently and avoid actions that have negative consequences for their customers. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Trading recommendation: Buy 106.25 and take profit 106.65.

David Johnson
Analyst of «FreshForex» company
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