06 Agosto 2019, USD/JPY
USDJPY trading plan:
The trade war between the US and China has a negative impact on the value of USDJPY. Beijing said local firms have halted U.S. agricultural purchases. The Chinese measures followed U.S. President Donald Trump's threat last week to impose 10% tariffs on $300 billion of Chinese imports starting Sept. 1. China let the Yuan weaken past the key 7 per dollar level amid the escalating trade war with the United States. Investors are sell's high-yield assets and buy's low-yield assets. This is a positive signal for the Japanese yen.
Trading recommendation: Sell 107.10 and take profit 106.60.