Trump signs HK Bill, what next for USDJPY & Gold

Russell Sandiford Reiwa-Capital.com

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)

Author

Russell Sandiford

Reiwa-Capital.com

Russell Sandiford is one of the most reputable market analysts in Australia with over 16 years’ experience in the global FX, indices and commodities markets.

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