03 August 2021, USD/JPY
USDJPY trading plan:
The U.S. Senate will try to complete work this week on a $1 trillion infrastructure investment bill that would bring long-awaited improvements to roads, bridges and mass-transit systems. The legislation, if enacted, would be the largest U.S. infrastructure investment in decades. Its passage would mark a major win for Biden, a Democrat, and the deeply divided Congress. It would come on the heels of a $1.9 trillion economic stimulus and coronavirus aid bill that was enacted earlier this year without Republican support. “In the end, the bipartisan groups of senators have produced a bill that will dedicate substantial resources to repair, maintain, and upgrade our nation’s physical infrastructure,” a buoyant Senate Majority Leader Chuck Schumer said on the Senate floor. This is a good signal for the U.S. stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 108.98 and take profit 109.55.
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