29 April 2021, USD/JPY
USDJPY trading plan:
The US Commerce Department will publish its snapshot of first-quarter GDP growth on Thursday at 12.30 GMT. The United States' economy is rebounding more quickly compared to its global rivals, thanks to two additional rounds of COVID-19 relief money from Washington as well as easing anxiety over the pandemic, which has boosted domestic demand and allowed services businesses like restaurants and bars to reopen. President Joe Biden proposed a sweeping new $1.8 trillion plan in a speech to a joint session of Congress. Biden’s plan includes $1 trillion in spending on education and childcare over 10 years and $800 billion in tax credits aimed at middle- and low-income families. It also includes $200 billion for free, universal preschool and $109 billion for free community college regardless of income for two years, the White House said.
Investment idea: buy 108.42 and take profit 108.90.
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