Correlation of Japanese yen and gold | 14 Juni 2019

14 Juni 2019, USD/JPY

Correlation of Japanese yen and gold

USDJPY trading plan:

Negative macroeconomic statistics from the United States on retail sales and industrial production may cause a decrease in the value of USDJPY in the psychological level of 108.00. American households are cutting their spending. This is a negative factor for the retail sector! Industrial production has difficulties with export orders. An expensive dollar makes it harder for American exporters. Investors are buying gold this week. This is a positive signal for the Japanese yen, which has a correlation with the precious metal.

Trading recommendation: Sell 108.49 and take profit 108.00.

David Johnson
Analyst of «FreshForex» company
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