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The US unemployment rate fell more sharply

The US unemployment rate fell more sharply | 07 September 2020

07 September 2020, USD/JPY

USDJPY trading plan:

The U.S. economy added 1,371 million nonfarm jobs in August. The unemployment rate fell more sharply than expected, to 8.4% of the working population from 10.2% in July. Adult participation in the labor force edged up to 61.7 from 61.4. Among the unemployed, the number of persons on temporary layoff decreased by 3.1 million in August to 6.2 million, down considerably from as much as of 18.1 million in April. This is a positive signal for the U.S. currency.

Trading recommendation: Buy 106.11 and take profit 106.40.

David Johnson
Analyst of «FreshForex» company
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