The traders of USD/JPY have observed a rise in its worth. It seems that their wait is over now. The tables are turning as expected. This shuffle is a permanent characteristic of forex trade. The value of USD/JPY review has finally managed to cross the resistance point of 106.077. The smooth flow of trade is right now on the table. The upward movement continues even the pair has reached its highest value after four months. The crucial meeting of Federal Reserve is one of the contributing factors for this rise. The minutes of this meeting have significant effect on the worth of this pair. However the pandemic still manages to stir the market.
Rise of USD
The rise in the worth of USD is still eyeing the stimulus program. The President is taking measures to give relief to the virus stricken citizens. He has taken another significant move in this regard. He has already extended ‘Mortgage Ban’ which was planned to expire after the first quarter of 2021. Now it has been extended till mid of this year. As 12% of the mortgaged land owners are late in paying the specified amounts, this extension will help the Pandemic stricken citizens to deal with it.
The number of deaths is still increasing with every passing day. The government seems to be helpless to deal with the cycle of the terrifying virus. The toll and trajectory of Pandemic continues to kill people. The total number of the deaths has crossed 490,000. The measures of the President still seem to be ineffective and not enough in the current scenario. All these facts and figures reveal that U.S economy still has not recovered the damage on the worth of USD. USD is still struggling to deal with these factors that are capping its rise. However the gain of USD/JPY review has currently relaxed the traders.