13 April 2021, USD/JPY
USDJPY trading plan:
The bullish rally in the US stock market will have a positive impact on the value of USDJPY, as the assets are correlated with each other. Boston Federal Reserve Bank President Eric Rosengren said the U.S. economy could see a significant rebound this year due to looser money and fiscal policy but the country's job market still faced weakness. He said with inflation still below the central bank's 2% target rate the current «highly accommodative» monetary policy stance remained appropriate. The Fed is still holding the discount rate in the range of 0-0.25% and is not going to change it until 2023. This factor allows corporations to use cheap borrowed capital to develop their business, and the cost of servicing old debt has been significantly reduced, which provides an increase in net profit.
Investment idea: buy 109.30 and take profit 109.70.
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