10 Noviembre 2021, USD/JPY
USDJPY trading plan:
The Bank of Japan will lag its peers, particularly the Federal Reserve, in tightening policy. Leveraged-fund positioning in the yen is the most bearish since January 2019, according to data from the Commodity Futures Trading Commission, and the Japanese currency has declined about 8.5% so far in 2021. This is a negative signal for the Japanese currency. Concerns mounted about a deepening liquidity crisis in the Chinese property sector, ahead of a deadline for cash-strapped China Evergrande Group to make an offshore bond coupon payment. Beijing has been prodding government-owned firms and state-backed property developers to purchase some of Evergrande's assets to try to control the fall. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: Buy 112.75 and take profit 113.35.
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