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Good and bad news | 02 September 2021

02 September 2021, USD/JPY

Good and bad news

USDJPY trading plan:

Bank of Japan shows no sign of tapering its massive purchases as the country remains mired in a decades-long battle with deflation. This is a negative signal for the Japanese yen. US private sector employment increased by 374,000 jobs according to the August ADP. Amid the jobs chatter, 10-year Treasury yields eased back to 1.30% and away from the recent top of 1.37%, while the U.S. dollar index touched a one-month low. Fed Chair Jerome Powell said last week that the jobs recovery would determine the timing of the asset purchase tapering.

Investment idea: range 109.55 -110.40.

David Johnson
Analyst of «FreshForex» company
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