19 Januari 2021, USD/JPY
USDJPY trading plan:
Asian shares climbed wagered China's economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 1%. Australian shares climbed 1.25%. Chinese blue-chips remained flat while Hong Kong's Hang Seng advanced 2%. China National Bureau of Statistics data showed that industrial production grew 7.3% year-on-year in December. It also showed that GDP rose 6.5% year-on-year in the fourth quarter but grew 2.6% quarter-on-quarter. Fiscal and monetary stimulus from the government that boosted investment in infrastructure and real estate powered early recovery. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: Buy 103.88 and take profit 104.26.
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