28 August 2020, USD/JPY
USDJPY trading plan:
Prime Minister Shinzo Abe, Japan's longest serving premier, is set to resign due to worsening health, ending a stint at the helm of the world's third-biggest economy during which he sought to revive growth, bolster defence and boost its global profile. Abe has battled the disease ulcerative colitis for years and two recent hospital visits within a week had fanned questions on whether he could stay in the job until the end of his term as ruling party leader, and hence, premier, in September 2021. The resignation will trigger a leadership race in the LDP, the winner of which must be formally elected in parliament. The new party leader will hold the post for the rest of Abe's term.
Trading recommendation: Sell 105.99 and take profit 105.60.
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