23 Juli 2019, USD/JPY
USDJPY trading plan:
Bullish rally on the stock markets will have a positive impact on the value of the USDJPY. The South China Morning Post reported that U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer are likely to travel to China next week for negotiations with Vice Premier Liu He. D. Trump plans to conclude a trade agreement with China before the presidential elections 2020. Investors also wait the July 30-31 FOMC meeting when the Fed is expected to cut its key federal funds rate. This factor will provide additional support to the stock markets.
Trading recommendation: Buy 108.04 and take profit 108.47.