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Positive signal from China

Positive signal from China | 28 December 2020

28 December 2020, USD/JPY

Positive signal from China

USDJPY trading plan:

China's finance ministry said it will extend tariff exemptions for imports of 6 products from the United States including white oil and food-grade petroleum wax, for another year. The extension, effective on Dec. 26, will last through Dec. 25, 2021, the ministry said. China announced tariff exemptions on the 6 chemical and oil products from the U.S. in December last year, shortly after the two countries announced a Phase 1 trade deal. This is a good signal for the stock markets and USD JPY, which has a correlation with the shares.

Investment idea: Buy 103.30 and take profit 103.70.

David Johnson
Analyst of «FreshForex» company
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