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The bullish rally on the U.S. stock market

The bullish rally on the U.S. stock market | 09 March 2021

09 March 2021, USD/JPY

USDJPY trading plan:

A bullish rally on the U.S. stock market will have a positive impact on the value of this currency pair. The U.S. Senate passed the $1.9 trillion COVID-19 relief package. President Joe Biden said he hoped for a quick passage of the revised bill by the House of Representatives so he could sign it and send $1,400 direct payments to Americans. Prospects of more government spending and faster economic growth have stoked fears of a spike in inflation, sending the benchmark 10-year Treasury yield to near one-year highs.

Investment idea: buy 108.87 and take profit 109.33.

David Johnson
Analyst of «FreshForex» company
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