Correlation between S&P500 and USDJPY | 14 2月 2020

14 2月 2020, USD/JPY

Correlation between S&P500 and USDJPY

USDJPY trading plan:

We are expecting a bullish rally on the U.S. stock market which will have a positive impact on the value of USDJPY. Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 205,000 for the week ended Feb. 8, the Labor Department said on Thursday. Claims fell in the prior week to 203,000, which was the lowest reading since November. Labor market strength is helping to sustain consumer spending, and supporting the economy, which is now in its 11th year of expansion. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 2% to 14.5. This is a positive signal for the U.S. stock market!

Trading recommendation: Sell 109.74 and take profit 110.05.

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Make a strong strategic move!

David Johnson
Analyst of «FreshForex» company
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