DAILY BRIEF—As you’re probably aware the U.S. senate approved a $2tn stimulus package yesterday. On the basis of 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 up 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 booking your profits.
