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A trade agreement with China may be concluded in the coming weeks

A trade agreement with China may be concluded in the coming weeks | 30 April 2019

30 April 2019, USD/JPY

USDJPY trading plan:

A trade agreement with China may be concluded in the coming weeks, said U.S. Secretary of the Treasury S. Mnuchin. This is a positive signal for the U.S. stock market. As trade talks enter their last leg, U.S. negotiators head to China on Tuesday to try to hammer out details to end the protracted tariff spat between the two countries. The S&P 500 posted 38 new 52-week highs and no new lows. A Commerce Department report showed U.S. consumer spending price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months. This is a positive signal for the U.S. stock market. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 111.36 and take profit 111.80

David Johnson
Analyst of «FreshForex» company
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