08 Juli 2021, USD/JPY
USDJPY trading plan:
At its meeting last month, the FOMC shifted towards a post-pandemic view of the world, dropping a longstanding reference to the coronavirus as a constraint on the economy. The minutes did little to clarify when the Fed will begin to change the monthly bond purchases and near-zero interest rates it put in place in the spring of 2020 to support the economy through the COVID-19 pandemic and associated recession. Long-term Treasury yields are near five-month lows, and the gap between those and shorter-term yields has been narrowing, which is favorable for the U.S. stock market. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 110.00 and take profit 110.50.
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