Inverse correlation between USDJPY and gold | 29 1月 2021

29 1月 2021, USD/JPY

Inverse correlation between USDJPY and gold

USDJPY trading plan:

The demand for gold fell to its lowest since 2009, according to the World Gold Council. “The coronavirus pandemic, with its far-reaching effects, was the driving factor behind weakness in consumer demand throughout 2020, culminating in a 14% decline in annual demand to 3,759.6t, the first sub-4,000t year since 2009,” the London-based organization said. This is a positive signal for USD JPY, as the currency pair has an inverse correlation with gold. Surplus reserves of American commercial banks have increased by $8.38 billion over the past week, which allows bankers to increase the volume of speculation in the stock market. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: Buy 104.30 and take profit 104.62.

David Johnson
Analyst of «FreshForex» company
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.
manager photo manager photo
Online-support
我们很高兴回答您的问题

提交申请

Get bonus