Correlation with stock markets | 18 8月 2021

18 8月 2021, USD/JPY

Correlation with stock markets

USDJPY trading plan:

Japan's exports marked a fifth straight month of double-digit growth in July, driven by U.S.-bound shipments of automobiles in a positive sign for a trade-led economy. Japanese exports grew 37.0% year-on-year in July. It followed a 48.6% growth in the prior month. Exports remained in an uptrend, which will continue in the coming months even though car production may face supply constraint due to chip shortages. Imports rose 28.5% in the year to July, versus the median estimate for a 35.1% increase, bringing the trade balance to a surplus of 441 billion yen compared with the median estimate for a 202.3 billion yen surplus. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 109.40 and take profit 109.95.

David Johnson
Analyst of «FreshForex» company
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