19 April 2021, USD/JPY
USDJPY trading plan:
U.S. homebuilding surged to nearly a 15-year high in March. Housing starts surged 19.4% to a seasonally adjusted annual rate of 1.739 million units last month. Starts soared 37.0% on a year-on-year basis in March. Homebuilding slumped in February as large parts of the country reeled from unseasonably cold weather, including winter storms in Texas and other parts of the densely-populated South region. The housing market is being fueled by demand for bigger and more expensive accommodations, with millions of Americans continuing to work from home and remote schooling remaining in place as the pandemic enters its second year. Housing supply has been insufficient, with the inventory of previously-owned homes at record lows. This is underpinning homebuilding.
Investment idea: buy 108.40 and take profit 108.85.
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