11 September 2020, USD/JPY
USDJPY trading plan:
The Republican stimulus package failed to win enough votes in the Senate to proceed. U.S. lawmakers failed to find a way to break the deadlock on stimulus talks at a time when job growth appears to be slowing. The Labor Department said the number of first-time filers for unemployment benefits came in at 884,000 for the week ended Aug. 29, missing economists' forecast for a fall to 850,000. This is a negative signal for the dollar. U.S. producer prices rose a bit more than expected in August as the cost of services increased solidly, while underlying producer inflation continued to firm. The producer price index for final demand rose 0.3% last month after surging 0.6% in July, the Labor Department said. This is a positive signal for the dollar.
Trading recommendation: range 105.75 -106.45.
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