16 October 2020, USD/JPY
USDJPY trading plan:
The US Labor Department said 898,000 Americans filed for unemployment insurance, up 53,000 from the prior week's 845,000. That was above economists' estimates for 820,000 claims and the highest since Aug. 22. This is a negative signal for USDJPY. A day after conceding that stimulus was unlikely to be rolled out before the Nov. 3 election, Treasury Secretary Steven Mnuchin said he would continue talks with House Speaker Nancy Pelosi to resolve differences, particularly on funding for a national testing plan, which remains a sticking point. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Trading recommendation: range 105.00 -105.60.
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