Bullish rally on the US stock market | 11 January 2021

11 January 2021, USD/JPY

Bullish rally on the US stock market

USDJPY trading plan:

A bullish rally in the US stock market will have a positive impact on the value of USDJPY, as assets are correlated with each other. A backstop of nearly $900 billion in stimulus approved by the government last week, positive vaccine data and expectations of a bigger fiscal package and infrastructure spending under Democratic-led U.S. Congress have pushed Wall Street's main indexes to all-time highs. The party in control is going to want to inject a lot of stimulus and spending into the economy which in the near-term will be good for economic growth and the stock market.

Investment idea: Buy 103.79 and take profit 104.20.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .