US trade representative Lighthizer: Finished with translation of phase one china trade agreement - Fox
|US trade representative Lighthizer says we are about finished with the translation of phase one china trade agreement – speaking to Fox Business Network.
Lighthizer says a deal includes commitments on currency manipulation.
Market implications
As traders get set for the signing ceromony between the US and China over the trade deal, risk sentiment is positive and USD/JPY has rallied to the highest levels since May.
USD/JPY Price Analysis: Pullback to Cloud/Bollinger-Band targets could be in play
- USD/JPY has traded through 109.73 key resistance and the 2018 trendline.
- Price is stalling just ahead of the Bolinger Band (BB) top.
- Bulls looking for a discount could look to the top of daily cloud confluence area.
- Bulls can target 110.50s for confluence resistance target.
- Failures here opens risk to 100% retracement of the recent rally from 107.80s – But, 200-DMA and 23.6% Fibo confluence first critical support target.
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