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Simmering tensions between the United States and China

Simmering tensions between the United States and China | 15 July 2020

15 July 2020, USD/JPY

Simmering tensions between the United States and China

USDJPY trading plan:

Simmering tensions between the United States and China also loom large, after U.S. President Donald Trump signed legislation and an executive order to hold China "accountable" for the national security law it imposed on Hong Kong. Trump also gave the green light to legislation sanctioning Chinese entities involved with enacting the city’s national security laws. This is a negative signal for USDJPY. Additional support for the bears will be provided by a positive trend in the gold market.

Trading recommendation: Sell 107.30 and take profit 106.95.

David Johnson
Analyst of «FreshForex» company
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