The correlation between the USDJPY and S&P500 | 27 Agustus 2020

27 Agustus 2020, USD/JPY

The correlation between the USDJPY and S&P500

USDJPY trading plan:

China is proposing to let U.S. regulators audit its state-owned enterprises in a concession aimed at solving their long-running accounting dispute, but would insist on redacting some information on national security grounds. The United States has long complained of lack of access to audit working papers for U.S.-listed Chinese companies. Washington earlier this month’s threatened measures to delist Chinese firms that fail to meet its auditing requirements. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 105.60 and take profit 106.10.

David Johnson
Analyst of «FreshForex» company
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