Correlation with stock markets | 01 tháng Ba 2022

01 tháng Ba 2022, USD/JPY

Correlation with stock markets

USDJPY trading plan:

Global stock markets have tumbled in recent days following Russia's invasion of Ukraine and Western sanctions, which include cutting off some of Russia's banks from the SWIFT financial network and limiting Moscow's ability to deploy its $630 billion foreign reserves. The markets are going to focus on the broader implications of what's going to happen around energy prices, what that means for inflation across parts of the world. High-level talks between Kyiv and Moscow on Monday ended with no agreement except to keep talking, but Asian markets stabilised on signs of no immediate escalation of sanctions. This is a bad signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: sell 115.00 and take profit 114.52.

David Johnson
Analyst of «FreshForex» company
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