13 Agustus 2021, USD/JPY
USDJPY trading plan:
The Federal Reserve will announce a plan to taper its asset purchases in September, according to a solid majority of investment funds. Since the release last week of a strong U.S. jobs report, which showed an unexpectedly sharp drop in the unemployment rate to 5.4% in July, a flurry of Fed officials have suggested the U.S. central bank might start reducing its $120 billion in monthly purchases of Treasuries and mortgage-backed securities sooner rather than later. The poll concluded the Fed will start with monthly reductions of $10 billion in its purchases of Treasuries and $5 billion in those of mortgage-backed securities. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 110.15 and take profit 110.70.
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