14 January 2021, USD/JPY
USDJPY trading plan:
All signs are pointing to a rise in U.S. inflation, St. Louis Federal Reserve President James Bullard said, but though the economy may boom later this year, it's too early to say when the Fed could take any steps to pull back on its super-easy policy. The money supply has "exploded," fiscal deficits are "off the charts" and a hot economy may either already be here or "just around the corner," Bullard said. And even with inflation set to rise, the Fed won't preemptively tighten policy in response. Inflation has under run the Fed's 2% target for the last decade, and has pledged to allow it to exceed 2% for some time to reestablish its credibility. This is a negative signal for the dollar.
Investment idea: Sell 104.12 and take profit 103.70.
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