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Good and bad news | 25 September 2020

25 September 2020, USD/JPY

Good and bad news

USDJPY trading plan:

Gold snapped a three-day losing streak. The yellow metal’s turnaround came after a precipitous drop of more than $90, or nearly 5%, from Friday’s session highs of above $1,959. This is a positive signal for the yen, as the Japanese currency correlates with the precious metal. U.S. lawmakers are still seeking to get a deal done on further stimulus before the U.S. election. Treasury Secretary Steven Mnuchin reportedly plans to resume talks with House Speaker Nancy Pelosi to iron out differences on a fresh round of stimulus to boost the economy. This is a positive signal for the dollar.

Trading recommendation: range 105.00 -105.55

David Johnson
Analyst of «FreshForex» company
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