13 August 2020, USD/JPY
USDJPY trading plan:
U.S. President Donald Trump accused Democrats of not wanting to negotiate over the package, with Republican and Democratic negotiators trading barbs and blame as negotiations ended without a result for the fifth day. Federal Reserve Bank of Boston President Eric Rosengren, who said he "strongly" supported taking additional fiscal action to help businesses and households survive the crisis. But, added more spending should be combined with more robust efforts to contain the virus. The U.S. central bank has adopted an extraordinarily easy monetary policy, slashing interest rates to near zero as well as making large-scale asset purchases and funneling loans to firms among other measures. But the budding recovery from the pandemic is showing signs of stress as new COVID-19 infections spiral across the United States, forcing authorities in some of the hot spots to either shut down businesses again or pause reopenings.
Trading recommendation: range 106.40 -107.20.
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