Negotiations between Joe Biden and Xi Jinping

06 10月 2021, USD/JPY

Negotiations between Joe Biden and Xi Jinping

USDJPY trading plan:

U.S. President Joe Biden said that he has spoken to Chinese President Xi Jinping about Taiwan and they agreed to abide by the Taiwan agreement, as tensions have ratcheted up between Taipei and Beijing. "I've spoken with Xi about Taiwan. We agree ... we'll abide by the Taiwan agreement," he said. "We made it clear that I don't think he should be doing anything other than abiding by the agreement." China claims Taiwan as its own territory, which should be taken by force if necessary. Taiwan says it is an independent country and will defend its freedoms and democracy, blaming China for the tensions. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 111.45 and take profit 111.93.

David Johnson
Analyst of «FreshForex» company
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