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The trade war

The trade war | 12 August 2019

12 August 2019, USD/JPY

The trade war

USDJPY trading plan:

Investment funds are increasing their long positions on the Japanese yen. The volume of long positions reached the maximum level since November 2016. The USA-China trade war forces investors to buy defensive assets. Investors are anxious about the impact of Trump's planned 10% tariff on the remaining $300 billion in Chinese imports, which will largely affect consumer goods, unlike the previous round that fell heavily on industrial and business products. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 6.27% to 17.97. This is a negative signal for the stock markets and USDJPY, as assets are correlated.

Trading recommendation: Sell 105.80 and take profit 105.40.

David Johnson
Analyst of «FreshForex» company
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