12 March 2021, USD/JPY
USDJPY trading plan:
The S&P500 and Dow hit record highs, led by surge in tech stocks on easing fears about a disorderly rise in U.S. rates. Given the selloff in bond prices, which trade inversely to yields/rates, over the past month, there were concerns that the market wasn't ready to buy bonds anticipating a further run up ahead, but the auction results The US Treasury Department was positive. The U.S. Department of Labor reported Thursday that initial jobless claims decreased by 42,000 to 712,000 in the week ended March 6, the lowest since November. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 108.75 and take profit 109.30.
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