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Bullish rally in stock markets!

Bullish rally in stock markets! | 25 November 2020

25 November 2020, USD/JPY

USDJPY trading plan:

The formal start of U.S. president-elect Joe Biden's transition to the White House and increasing confidence a COVID-19 vaccine would be ready soon ushered in renewed appetite for global shares. After weeks of waiting, President Donald Trump's administration cleared the way for Biden to prepare for the start of his administration, giving him access to briefings and funding. The return to the normal standards of political process has calmed markets fearful of a destabilizing transition period leading to the Biden administration scrambling for control at the beginning of its tenure. The markets have also responded positively to the Biden camp’s plans to install ex-Federal Reserve Chairman Janet Yellen as U.S. Secretary of the Treasury. Yellen is seen as a moderate, stabilizing influence in economic circles. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: Buy 104.25 and take profit 104.55

David Johnson
Analyst of «FreshForex» company
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