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This is a negative signal for the dollar

This is a negative signal for the dollar | 05 November 2020

05 November 2020, USD/JPY

This is a negative signal for the dollar

USDJPY trading plan:

Democrat Joe Biden looked to be edging closer to winning the U.S. presidential election. The U.S. presidential battle remains undecided, but Democratic candidate Joe Biden has taken the lead in the counting for the pivotal Midwestern states of Wisconsin and Michigan, suggesting he is getting closer to claiming the White House. Biden administration would result in a slightly softer tone on trade policy are likely to weaken the dollar against the currencies of countries that often faced the threat of tariffs during Trump's administration.

Trading recommendation: Sell 104.45 and take profit 104.11

David Johnson
Analyst of «FreshForex» company
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