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A positive signal for the stock markets!

A positive signal for the stock markets! | 11 December 2020

11 December 2020, USD/JPY

A positive signal for the stock markets!

USDJPY trading plan:

A panel of outside advisers to the U.S. Food and Drug Administration on Thursday voted 17-4 to endorse emergency use of the shot, which is set to clear the way for an emergency use authorization from the FDA within days. Vaccine distribution and inoculations in the U.S. are set to begin almost immediately after the clearance. ECB deployed another round of monetary stimulus totaling €500 billion during its policy meeting, conforming to expectations as Europe continues to fight a second wave of Covid-19 cases. EBC will continue its ongoing bond purchase stimulus by EUR500 billion euros to €1.85 trillion and will extend its support program until at least March 2022 from the current earliest end date of mid 2021. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Investment idea: Buy 103.85 and take profit 104.30.

David Johnson
Analyst of «FreshForex» company
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