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Correlation between USDJPY and #SP500

Correlation between USDJPY and #SP500 | 24 November 2020

24 November 2020, USD/JPY

Correlation between USDJPY and #SP500

USDJPY trading plan:

U.S. General Services Administration chief Emily Murphy wrote in a letter to Biden on Monday that he can formally begin the hand-over process. President Donald Trump tweeted that he had told his team "do what needs to be done with regard to initial protocols", an indication he was moving toward a transition after weeks of legal challenges to the election results. U.S. stocks also got an added boost after reports that Biden plans to nominate former Federal Reserve Chair, Janet Yellen, to become the next Treasury Secretary. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: Buy 104.30 and take profit 105.65

David Johnson
Analyst of «FreshForex» company
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