14 May 2019, USD/JPY
USDJPY trading plan:
China is preparing to increase duties on American goods from June 1 - this is factor has a negative impact on the value of shares in the world. China's finance ministry said on Monday it planned to impose tariffs ranging from 5% to 25% on 5,140 U.S. products on a target list worth about $60 billion. At the heart of the selloff were shares in major technology companies including Apple Inc as well as chipmakers, manufacturers and retailers that draw a large share of their revenue from China. Apple's shares fell 6%. Ten of the 11 major S&P sectors were lower, with technology, industrial and material stocks posting losses of more than 3%. This is a bad signal for the stock market and USD JPY, which has a correlation with the shares.
Trading recommendation: Sell 109.84 and take profit 109.50.
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