10 August 2021, USD/JPY
USDJPY trading plan:
The U.S. Senate has set a Tuesday vote on passage of a $1 trillion bipartisan infrastructure bill that is one of President Joe Biden’s top priorities, and then will immediately begin to debate a more far-reaching $3.5 trillion bill. The first bill here, which is 2,702 pages, sits atop Biden's domestic agenda and includes $550 billion in new spending on roads, bridges and internet access. The $1 trillion infrastructure bill is popular among many lawmakers in both parties because of the federal dollars it would deliver to their home states. Polls also show that Americans at large are supportive of it. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 110.19 and take profit 110.65.
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