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The negative signal for the U.S. currency

The negative signal for the U.S. currency | 28 January 2021

28 January 2021, USD/JPY

The negative signal for the U.S. currency

USDJPY trading plan:

The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic. Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. The economic dislocation has upended many lives and created great uncertainty about the future. This is a negative signal for the U.S. currency.

Investment idea: Sell 104.38 and take profit 103.90.

David Johnson
Analyst of «FreshForex» company
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