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U.S.-China relations

U.S.-China relations | 24 July 2020

24 July 2020, USD/JPY

U.S.-China relations

USDJPY trading plan:

The United States recorded more than 915,000 Covid-19 cases over the past two weeks, more than the number reported for all of June. Top U.S. pandemics expert Anthony Fauci said earlier this month that the daily case growth could reach 100,000 without proper social- distancing and other safety measures. Washington and Beijing have been negotiating for weeks over the terms of how to bring U.S. diplomats back amid disagreement over COVID-19 testing and quarantine procedures as well as frequency of flights and how many each can bring back. U.S.-China relations have deteriorated this year to their lowest level in decades over a wide range of issues, including China's handling of the COVID-19 pandemic, bilateral trade and a new security law for Hong Kong.

Trading recommendation: Sell 106.40 and take profit 106.00.

David Johnson
Analyst of «FreshForex» company
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