USD/JPY - Green Backs Demand Decreases as Risk on Sentiment Prevails
DAILY BRIEF— As you’re probably aware the U.S. Senate approved a $2tn stimulus package yesterday. Based on risk-on sentiment in the equity markets whilst simultaneously, the demand for yellow metal did increase. Subsequently, I was expecting the dollar to weaken. After the market tested the area marked with a rectangle, if the market does a retracement during the day, a short in USDJPY looks very promising, targeting the 200 DMA. I don’t expect the market to hold the gains in the equity markets much longer so you have to be proactive in booking your profits. Tags: Exchange, Forex Market News, USDJPY
