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Correlation between USDJPY and stock markets

Correlation between USDJPY and stock markets | 23 September 2021

23 September 2021, USD/JPY

USDJPY trading plan:

The Fed held its current target interest rate steady in a range of 0% to 0.25%. Though acknowledging the new surge of the pandemic had slowed the recovery of some parts of the economy, overall indicators “have continued to strengthen,” the central bank’s policy-setting Federal Open Market Committee said in its unanimous policy statement. “The sectors most adversely affected by the pandemic have improved in recent months, but the rise in COVID-19 cases has slowed their recovery,” the Fed said in its policy statement. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 109.65 and take profit 110.10.

David Johnson
Analyst of «FreshForex» company
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