27 Agustus 2020, USD/JPY
USDJPY trading plan:
China is proposing to let U.S. regulators audit its state-owned enterprises in a concession aimed at solving their long-running accounting dispute, but would insist on redacting some information on national security grounds. The United States has long complained of lack of access to audit working papers for U.S.-listed Chinese companies. Washington earlier this month’s threatened measures to delist Chinese firms that fail to meet its auditing requirements. This is a good signal for the stock market and USD JPY, which has a correlation with the shares.
Trading recommendation: Buy 105.60 and take profit 106.10.