28 Juni 2021, USD/JPY
USDJPY trading plan:
Minneapolis Federal Reserve President Neel Kashkari said he expects recent high inflation readings will not last and Americans will return to the labor market in large numbers in the fall. “We should see a lot more labor supply in the fall,” Kashkari said in a virtual event hosted by the Minnesota Council of Nonprofits and the Minnesota Council of Foundations, once the three main factors holding back labor supply - the closures of schools and daycare facilities, fear of the coronavirus, and extra unemployment benefits authorized by Congress - have faded. Kashkari said the economy is down 7 million to 10 million jobs from where it would have been without the pandemic, and that he views maximum employment to be “at a minimum” getting those jobless Americans back to work. The Federal Reserve is continuing to print money and increasing the dollar liquidity surplus. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.
Investment idea: buy 110.45 and take profit 110.92.
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