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Correlation between USDJPY and the U.S. stock market

Correlation between USDJPY and the U.S. stock market | 07 December 2020

07 December 2020, USD/JPY

Correlation between USDJPY and the U.S. stock market

USDJPY trading plan:

U.S. Commerce Department said the trade gap rose 1.7% to $63.1 billion in October. Data for September was revised to show a $62.1 billion deficit instead of $63.9 billion as previously reported. Imports increased 2.1% to $245.1 billion. Goods imports gained 2.1% to $207.8 billion. Exports accelerated 2.2% to $182.0 billion. Goods exports jumped 3.0% to $126.3 billion. The trade could contribute to economic growth in the fourth quarter. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Investment idea: Buy 104.10 and take profit 104.50.

David Johnson
Analyst of «FreshForex» company
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