27 May 2021, USD/JPY
USDJPY trading plan:
The bullish rally in the stock markets will have a positive impact on the value of USDJPY, as the assets are correlated with each other. Global equities markets have been supported by a concerted effort from major central banks that have pumped trillions of dollars in financial markets since last year while reiterating their lower-for-longer interest rate stance as they seek to cast any inflation rise as temporary. Earlier this week, U.S. Federal Reserve Vice Chair Richard Clarida said he believed recent inflation pressures would «prove to be largely transitory».
Investment idea: buy 108.95 and take profit 109.35.
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