05 August 2022, USD/JPY
USDJPY trading plan:
The number of Americans filing new claims for unemployment benefits increased last week, suggesting some softening in the labor market, though overall conditions remain tight. That was underscored by other data showing a sharp decline in layoffs announced by U.S.-based companies in July. The still-low level of unemployment claims and brisk pace of hiring support views that the economy is not in recession despite gross domestic product contracting in the first half. Seasonally adjusted claims broke above 230,000 at the beginning of June, hitting an eight-month high of 261,000 in mid-July. However, they remain below the 270,000-300,000 range that traders say would signal a slowdown in the labor market.
Investment idea: sell 133.65 and take profit 133.00.
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