Good news and bad news | 05 Agustus 2020

05 Agustus 2020, USD/JPY

USDJPY trading plan:

Good news and bad news. The bullish rally in the gold market is a negative factor for USDJPY. Gold continues to set record highs after breaking past the $2,000 per ounce mark. The bullish rally on the U.S. stock market will have a positive impact on the value of USD JPY. A meeting between Democratic leaders and the White House on Tuesday ended on a positive note. Senate Majority Leader Mitch McConnell also said that he is prepared to support a deal even if he does not agree with parts of it.

Trading recommendation: range 105.40 - 106.00.

David Johnson
Analyst of «FreshForex» company
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