Trump signs HK Bill, what next for USDJPY & Gold
|There is one thing in the markets that can skittle the trade deal – US President Trump signing off the HK Bill passed in the US senate last week.
Guess what, he just announced that it is signed.
Watch out for a liquidity crunch today for Gold & USD/JPY.
I expect two key trades to work well today:
- BUY GOLD
- SELL USD/JPY
Why? Gold rallies as a safe-haven asset whenever a higher degree of uncertainty changes the risk sentiment, and we now are in that state of flux.
Trade Call =
- BUY GOLD
$1,458
Target: $1,480 (+ $22)
Stop: $1,448 (- $10)
Trade Call #2 =
- SELL USD/JPY
109.40
Target: 108.80 (+60 Pips)
Stop: 109.80 (- 40 Pips)
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