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Correlation between USDJPY and SP500

Correlation between USDJPY and SP500 | 03 January 2023

03 January 2023, USD/JPY

Correlation between USDJPY and SP500

USDJPY trading plan:

Some people in the Chinese cities of Beijing, Shanghai and Wuhan braved the cold and a rise in COVID-19 infections to return to regular activity on Monday, raising the prospect of a boost to the economy as more recover from infections. The switch followed protests over the policy championed by President Xi Jinping, marking the strongest show of public defiance in his decade-old presidency and coinciding with grim growth figures for the country's $17 trillion economy. Work production, life and entertainment are all getting back to normal levels. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 130.39 and take profit 131.00.

David Johnson
Analyst of «FreshForex» company
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