Trade negotiations | 13 May 2019

13 May 2019, USD/JPY

Trade negotiations

USDJPY trading plan:

11 round of trade negotiations between the US and China ended "well enough", - said the Vice Prime Minister of China. This is a neutral factor for the U.S. stock market and USDJPY, which has a correlation with the shares. Investors will wait for new signals from Washington and Beijing. We think that both sides will be able to conclude a trade agreement in the summer. D. Trump will take a wait-and-see position in May. Investors will take profits on short positions today. We are waiting for a technical correction.

Trading recommendation: Buy 109.58 and take profit 110.19

David Johnson
Analyst of «FreshForex» company
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