The correlation between USDJPY and the stock market | 25 March 2020

25 March 2020, USD/JPY

The correlation between USDJPY and the stock market

USDJPY trading plan:

European shares rose following a strong rally in the previous session, as investors bet on unprecedented stimulus measures to ease the economic pain on businesses and households from the coronavirus pandemic. Stock markets have now recovered its losses from mid March on the back of extraordinary fiscal and monetary stimulus from Europe and the United States. Today, U.S. officials agreed on a whopping $2 trillion stimulus package. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 111.00 and take profit 111.40.

David Johnson
Analyst of «FreshForex» company
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