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Correlation between USDJPY and #SP500

Correlation between USDJPY and #SP500 | 05 April 2021

05 April 2021, USD/JPY

Correlation between USDJPY and #SP500

USDJPY trading plan:

The bullish rally in the U.S. stock market will have a positive impact on the value of USDJPY. Positive statistics on the labor market signal the continuation of the upward trend in the stock market. The U.S. economy added 916,000 jobs in March. The March labor market report is the first of what are likely to be several very strong jobs reports over the next few months. US President Joe Biden introduced a $2.3 trillion package that will form the first part of a likely $4 trillion infrastructure plan. This is an additional positive factor for the stock market.

Investment idea: buy 110.51 and take profit 110.95.

David Johnson
Analyst of «FreshForex» company
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