Geopolitical tensions between the US and China | 07 Agustus 2020

07 Agustus 2020, USD/JPY

Geopolitical tensions between the US and China

USDJPY trading plan:

U.S. President Donald Trump on Thursday moved to ban U.S. transactions with popular Chinese apps, Tencent's WeChat and ByteDance's Tiktok. Tension has been simmering between the two powers for months, with the United States unhappy with China's handling of the novel COVID-19 outbreak and moves to curb freedoms in Hong Kong. U.S. Republicans and Democrats have so far failed to reach an agreement on the size and makeup of a new fiscal stimulus package that many think is needed to prevent the U.S. economy from losing more momentum.

Trading recommendation: Sell 105.75 and take profit 105.35.

David Johnson
Analyst of «FreshForex» company
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