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Bullish rally on the US stock market

Bullish rally on the US stock market | 11 January 2021

11 January 2021, USD/JPY

Bullish rally on the US stock market

USDJPY trading plan:

A bullish rally in the US stock market will have a positive impact on the value of USDJPY, as assets are correlated with each other. A backstop of nearly $900 billion in stimulus approved by the government last week, positive vaccine data and expectations of a bigger fiscal package and infrastructure spending under Democratic-led U.S. Congress have pushed Wall Street's main indexes to all-time highs. The party in control is going to want to inject a lot of stimulus and spending into the economy which in the near-term will be good for economic growth and the stock market.

Investment idea: Buy 103.79 and take profit 104.20.

David Johnson
Analyst of «FreshForex» company
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