24 August 2021, USD/JPY
USDJPY trading plan:
The spread of the Delta variant has the potential to upset the timing of the U.S. Federal Reserve's tapering plans. Spiking COVID-19 infections caused by the highly contagious Delta variant have fuelled concerns about the recovery from the global health crisis. Dallas Federal Reserve President Robert Kaplan, a well-known hawk said he might reconsider the need for an early start to tapering if the virus harms the economy. That adds an extra frisson of uncertainty to Fed Chair Jerome Powell's speech at Jackson Hole this week, which has had to be moved online because of pandemic restrictions. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 109.60 and take profit 110.11.
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