07 October 2020, USD/JPY
USDJPY trading plan:
Trump's decision, announced via Twitter, to call off stimulus talks until after the Nov. 3 presidential election increased downside risks for an already shaky U.S. stock market. This is a bad signal for the stock market and USD JPY, which has a correlation with the shares. Federal Reserve Chairman Jerome Powell had warned of the dire consequences for the U.S. economy if the coronavirus was not effectively controlled, calling for more economic assistance. The economy did face longer-term challenges. Labor force participation among people in their prime working years had been trending down since the turn of the millennium, and productivity gains during the expansion were disappointing. Income and wealth disparities had been growing for several decades.
Trading recommendation: range 105.60 -106.35.
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