10 Juni 2020, USD/JPY
USDJPY trading plan:
Good and bad news for USDJPY. U.S. Federal Reserve could take steps to curb a recent rise in bond yields at its policy meeting. FOMC will adopt yield curve control to guide 10-year Treasury yields lower. This is a negative signal for the dollar. A positive factor is the bullish rally in stock markets. This is a good signal for the stock market and USD JPY, which has a correlation with the shares. Stocks hit three-month highs, riding a wave of euphoria after the U.S. Labor Department reported an unexpected hike of 2.5 million U.S. jobs in its May report despite the continued shutdown of many businesses last month from the Covid-19.
Trading recommendation: range 106.90 -107.70.