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Correlation between USDJPY and the U.S. stock market

Correlation between USDJPY and the U.S. stock market | 13 July 2020

13 July 2020, USD/JPY

Correlation between USDJPY and the U.S. stock market

USDJPY trading plan:

The bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY. Rising stocks outnumbered declining ones on the New York Stock Exchange by 2161 to 704 and 61 ended unchanged; on the Nasdaq Stock Exchange, 1656 rose and 1039 declined, while 68 ended unchanged. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 6.73% to 27.29 a new 1-month low. The Federal Reserve and the US Treasury are implementing incentive programs that have a positive impact on the value of corporate shares.

Trading recommendation: Buy 106.95 and take profit 107.30.

David Johnson
Analyst of «FreshForex» company
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