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Trade deal between the United States and China

Trade deal between the United States and China | 05 November 2019

05 November 2019, USD/JPY

USDJPY trading plan:

A bullish rally in the stock markets will have a positive impact on the value of the USDJPY currency pair. United States and China said they had made progress in defusing an economically damaging trade war, with U.S. officials indicating that a deal could be signed this month. U.S. Commerce Secretary Wilbur Ross said on Monday licenses for U.S. companies to sell components to China's Huawei Technologies Co Ltd would come "very shortly". Last week's interest rate cut by the Federal Reserve, have been the main catalysts of the rally. The S&P index recorded 59 new 52-week highs and no new lows.

Trading recommendation: Buy 108.58 and take profit 109.02.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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