Correlation between USDJPY and S&P500 | 19 November 2021

19 November 2021, USD/JPY

Correlation between USDJPY and S&P500

USDJPY trading plan:

The S&P500 and Nasdaq notched record closing highs. Nvidia's stock jumped and was among the biggest supports for the S&P 500 and Nasdaq after it beat quarterly estimates and forecast strong fourth-quarter revenue. U.S. Treasury Secretary Janet Yellen said a combination of estimates done by the Congressional Budget Office, the Joint Committee on Taxation, and Treasury showed that a $1.75 trillion social and climate spending bill would be "fully paid for." This is a positive signal for the US stock market and USDJPY, as assets are correlated.

Investment idea: Buy 114.19 and take profit 114.97.

David Johnson
Analyst of «FreshForex» company
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