12 June 2019, USD/JPY
USDJPY trading plan:
The bad news is the negative macroeconomic statistics on inflation in the United States. In the 12 months through May, the PPI climbed 1.8%, slowing from April's 2.2% advance. Traders are waiting for the decline in interest rates FOMC and sell’s the U.S. currency. Traders is betting the Fed will cut interest rates in July and cut two more times this year as Trump's hard bargaining on trade with Beijing and others could push the economy back into recession. We are seeing the sale of the U.S. dollar against most competitors.
Trading recommendation: Sell 108.60 and take profit 108.20.