13 Januari 2021, USD/JPY
USDJPY trading plan:
Benchmark 10-year Treasury yields fell nearly 8 basis points from a 10-month high hit and the turnaround snuffed out a three-day streak for the dollar. The upward correction in the dollar index looks to be over and the downtrend has resumed. Joe Biden expects to usher in huge sums in government borrowing to fund big-spending stimulus plans. Federal Reserve Bank of St. Louis President James Bullard and Boston Fed President Eric Rosengren pushed back on speculation that the Fed will begin to ease its asset-purchase program any time soon in separate comments.
Investment idea: Sell 103.86 and take profit 103.50.