30 November 2020, USD/JPY
USDJPY trading plan:
Investors are expecting large-scale stimulus from the new U.S. administration to combat the Covid-19 pandemic. Biden has made it clear that tackling the pandemic is his first priority, and has called on U.S. lawmakers to pass a new stimulus bill before he officially takes office in January. His nomination of Janet Yellen, former head of the Federal Reserve who is credited with helping steer the economic recovery after the 2007 financial crisis and ensuing recession, has also played into the underlying belief that more fiscal help is on its way, likely pressurising the dollar.
Investment idea: range 103.50 -104.40.
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