03 December 2019, USD/JPY
USDJPY trading plan:
High geopolitical tensions will have a negative impact on stock markets and USDJPY, as the currency pair correlates with the S&P500. Trump said he will impose tariffs on U.S. steel and aluminum imports from Brazil and Argentina, catching the two South American countries off guard and prompting them to seek explanations. A two-year U.S. ban on Brazil beef imports remains in place, despite nine months of talks and a personal plea from Bolsonaro to Trump during his visit in March. The U.S. government said it may slap punitive duties of up to 100% on $2.4 billion in imports from France of Champagne, handbags, cheese and other products, after concluding that France's new digital services tax would harm U.S. tech companies.
Trading recommendation: range 108.85 -109.47.