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The correlation between USDJPY and the stock markets

The correlation between USDJPY and the stock markets | 04 January 2021

04 January 2021, USD/JPY

USDJPY trading plan:

Fewer Americans sought unemployment benefits last week, but the modest drop did little to dispel concerns that the U.S. job market and wider economy face an arduous recovery from the devastation inflicted by the coronavirus pandemic in 2020. The arrival of effective COVID-19 vaccines and additional federal pandemic aid has set the stage for a brighter 2021. The Labor Department will issued December's employment data on Jan. 8. We are expecting positive data. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: Buy 102.70 and take profit 103.20.

David Johnson
Analyst of «FreshForex» company
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