02 April 2021, USD/JPY
USDJPY trading plan:
On Wall Street, the S&P 500 touched a new high as it charged past the 4,020 mark after the Institute for Supply Management said its index of U.S. factory activity soared to its highest level in more than 37 years in March. San Francisco Federal Reserve Bank President Mary Daly said the U.S. central bank will keep monetary policy easy despite what she said will be an increase this year in prices as the economy reopens more fully and households spend more. “As policymakers we have to look through these temporary increases; we’re really looking for sustained improvements in inflation so we can average 2% and meet our price stability goals,” Daly said in an interview with Fox Business Network. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 110.40 and take profit 110.90.
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