31 December 2021, USD/JPY
USDJPY trading plan:
A bullish rally on the U.S. stock market will have a positive impact on the value of USDJPY, as assets correlate with each other. The S&P 500 and the Dow hit all-time highs, extending a record-setting run as a dip in weekly jobless claims allayed fears over the economic damage from a rampant surge in COVID-19 infections in the United States. Equities have rallied recently, albeit in some of the thinnest trading volumes that U.S. stock exchanges have seen this year, as growing evidence emerged that the Omicron variant causes less severe illness than the Delta strain. Stock markets are currently in a historically strong period, also called the "Santa Claus Rally" that typically occurs in the last five trading days of the year and the first two of the new year.
Investment idea: buy 114.85 and take profit 115.35.
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