10 Octubre 2019, USD/JPY
USDJPY trading plan:
The course of trading will be determined by the dynamics of stock markets. Investors are closely watching trade talks between the United States and China taking place in Washington this week. Without significant progress, U.S. President Donald Trump is set to hike the tariff rate on $250 billion worth of Chinese goods to 30% from 25% next Tuesday. The United States is proposing a currency Pact with China. If there will be such an agreement, the yuan could rise to 6.9 to the dollar. This event will have a positive impact on the stock markets and the currency pair USDJPY.
Trading recommendation: Buy 107.30 and take profit 107.71.