The bullish rally on the US stock market | 09 April 2021

09 April 2021, USD/JPY

The 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 the asset correlates with each other. Index S&P500 closed the day above 4100 points for the first time in history! Vaccination of the population against COVID-19 in the United States is gaining momentum, which combined with the reflationary policy of the financial authorities, leaves investors no choice but to increase the share of stocks in their portfolios. St. Louis Fed president James Bullard adding at a separate Southern Illinois University gathering that the central bank should not even discuss changes until there are clear signs that the COVID-19 pandemic is over.

Investment idea: buy 109.30 and take profit 109.90

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David Johnson
Analyst of «FreshForex» company
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