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Correlation of USDJPY and the U.S. stock market

Correlation of USDJPY and the U.S. stock market | 25 August 2020

25 August 2020, USD/JPY

Correlation of USDJPY and the U.S. stock market

USDJPY trading plan:

The United States and China have seen progress in implementing the Phase One Sino-US Trade Agreement. This was reported in a statement following a call with the participation of the US representative at trade negotiations Robert Lighthizer, Treasury Secretary Stephen Mnuchin and Vice Premier of the State Council of China Liu He. “Both sides see progress and are committed to taking the steps necessary to ensure the success of the agreement,” the US Trade Office website said. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 106.11 and take profit 106.54.

David Johnson
Analyst of «FreshForex» company
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