USDJPY – Down
USDJPY trading plan:
Investors sell shares all over the world. Trade negotiations between the US and China may come to a standstill. This is a negative signal for the stock market and USD JPY, which has a correlation with the shares. U.S. trade representative Robert Lighthizer confirmed the U.S. would hike tariffs on China. The CBOE Volatility Index, a widely followed options-based barometer of expected near-term volatility for stocks, known as the VIX, rose about 5.56 points to 21, its highest close since Jan. 23. The index has logged an average close of 13 over the last month. USDJPY is near the psychological level of 110.00 where the market can stabilize.
Trading recommendation: range 109.75 -110.45.
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