11 Februari 2021, USD/JPY
USDJPY trading plan:
The U.S. government posted a budget deficit of $163 billion in January, a record high for the month and a $130 billion jump from the deficit in the same month last year. Receipts for January rose 3% from the year-earlier period to $385 billion, while outlays grew 35% to $547 billion. Both receipts and outlays were record highs for January. For the first four months of the 2021 fiscal year, the deficit rose 89% to $736 billion, with receipts rising 1% to $1.19 trillion and outlays increasing 23% to $1.92 trillion. The deficit, receipts and outlays were all year-to-date record highs. This is a negative signal for the US dollar.
Investment idea: Sell 104.70 and take profit 104.40.
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