Trade agreement | 01 November 2019

USDJPY trading plan:

Donald Trump later said the two countries would soon announce a site where a "Phase One" trade deal will be signed after Chile canceled a planned summit set for mid-November that was to be the venue for a signing. This is positive news for the U.S. stock market. The S&P 500 posted 26 new 52-week highs and 5 new lows. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.2% last month as households boosted purchases of automobiles and spent more on healthcare. Data for August was revised up to show consumer spending increasing 0.2% instead of gaining 0.1% as previously reported. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.

Trading recommendation: Buy 107.80 and take profit 108.24.