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The trade war

The trade war | 06 August 2019

06 August 2019, USD/JPY

The trade war

USDJPY trading plan:

The trade war between the US and China has a negative impact on the value of USDJPY. Beijing said local firms have halted U.S. agricultural purchases. The Chinese measures followed U.S. President Donald Trump's threat last week to impose 10% tariffs on $300 billion of Chinese imports starting Sept. 1. China let the Yuan weaken past the key 7 per dollar level amid the escalating trade war with the United States. Investors are sell's high-yield assets and buy's low-yield assets. This is a positive signal for the Japanese yen.

Trading recommendation: Sell 107.10 and take profit 106.60.

David Johnson
Analyst of «FreshForex» company
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