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Good and bad factors

Good and bad factors | 14 April 2021

14 April 2021, USD/JPY

Good and bad factors

USDJPY trading plan:

Gold prices bounced off a more than one-week low after data showing a sharp rise in U.S. inflation bolstered bullion's appeal as an inflation hedge and weighed on the dollar. This is a negative factor for USDJPY. The S&P 500 inched to a fresh record high Tuesday led by strength in tech. Technology helped to prop up the broader market as investors continue to back mega cap growth in the run up to quarterly earnings later this month. A fall in U.S. bond yields, which trade inversely to prices, also supported investor sentiment on growth stocks despite the latest data showing an uptick in inflation. This is a positive factor for USDJPY.

Investment idea: range 108.60 -109.55.

David Johnson
Analyst of «FreshForex» company
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