03 September 2021, USD/JPY
USDJPY trading plan:
The S&P 500 and Nasdaq squeaked to record highs. U.S. stocks have regularly hit record highs over the past few weeks as a solid corporate earnings season and hopes of continued central bank support underpinned confidence as data showed the country’s post-pandemic economic growth was beginning to slow. This is a good signal for the stock market and USDJPY, which has a correlation with the shares. The latest wave of COVID-19 cases, driven by the Delta variant of the coronavirus, and an acute shortage of workers have left some economists expecting moderate job gains in August. Labor market indicators last month were mixed, with a measure of factory employment contracting and private payrolls undershooting expectations. But hiring by small businesses accelerated and consumers' views of the labor market remained fairly upbeat. This is a negative factor for the dollar.
Investment idea: range 109.60 -110.42.
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