21 August 2020, USD/JPY
USDJPY trading plan:
Members of the Blue Dog coalition, a group of 26 fiscally conservative Democrats, is asking Pelosi, Senate Democratic leader Chuck Schumer, House Republican leader Kevin McCarthy and Senate Majority Leader Mitch McConnell to use a Saturday House vote on a U.S. Postal Service bill as an opportunity to restart negotiations. “As the House prepares to vote this weekend on a bill to protect the United States Postal Service, we urge you to restart bipartisan, bicameral negotiations on a fifth COVID-19 relief package that is commensurate with the scale of this public health and economic crisis,” the group said in a letter to the leaders that will be sent as soon as Thursday. They explained that they are ready to take this step in order to reach an agreement with the White House on a new stimulus package. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.
Trading recommendation: Buy 105.47 and take profit 105.81.
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