12 October 2020, USD/JPY
USDJPY trading plan:
Trump told a radio show on Friday that he wants a new and bigger COVID-19 relief package approved for Americans. "I'd like to see a bigger stimulus package than either the Republicans or Democrats are offering," the president told the Rush Limbaugh radio show referring to both his party as well as the opposition. "I'd like to see money going to people." Trump is blamed House Speaker and leader of the Democrats in Congress Nancy Pelosi for the aborted talks, saying she demanded an outsized $2.4 trillion package versus the $1.6 trillion offered by the Republicans. Pelosi didn’t respond directly to the accusation and questioned instead the mental capacity of the president. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.
Trading recommendation: Buy 105.33 and take profit 105.68.
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