The daily forex analysis of January 12, 2021 will discuss the positive sentiment arising from the interest of market participants in the US Dollar amid the growing perception in the market regarding the level of US fiscal spending that will be more intense in 2021. This perception triggered an increase in US Treasury yields for long-term tenors in 10 years. This triggered a weakening of the Japanese Yen. However, the weakening of the Yen is not expected to last long. As we know, the Yen is a safe haven instrument of choice for market participants. The rebound of the US dollar from its lowest level, driven by rising US bond yields, made other currencies move weaker. Meanwhile in US politics, the House of Representatives or the Senate of the Democratic Party are trying to introduce their latest program, while they also plan to set a vote this week after the riot at the Capitol. U.S. President Trump and his deputy, Mike Pence, have agreed to work together for the remainder of their terms. According to a report from one of the administration officials, he said that Trump will not resign until the time the transition of leadership is officially handed over to the president-elect. The Covid-19 relief fund stimulus package, and the increasing market demand for safe haven assets have strengthened the Greenback. One Federal Reserve official said that there will be more push for a larger stimulus package. On the other hand, the mass distribution of the Corona vaccine in the United States is expected to make a strong US economic recovery in the second quarter.
Forex Daily Analysis Predictions
Today's FOREX prediction on the USDJPY pair is expected to decline and the recommended OP (Open Position) is
SELL at the level of 103.950. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
| Preference |
BEARISH |
| Target Profit 1 |
103,850 |
| Target Profit 2 |
103,750 |
| Stop Loss 1 |
104,000 |
| Stop Loss 2 |
104,050 |
This the daily analysis of forex on January 12, 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of
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