Source: PaxForex Premium Analytics Portal, Technical Insight

According to Bloomberg with reference to knowledgeable sources, the U.S. and China are considering a new schedule of negotiations to discuss the trade deal. The source said that the negotiations will take place soon, although no exact date has been set for them yet. So far, trade negotiations continue regularly, but not at the highest level.

USD/JPY, 30 min

Pivot: 106.04

Analysis:

Provided that the currency pair is traded above 105.85 follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 106.04
• Take Profit 1: 106.25
• Take Profit 2: 106.50

Alternative scenario: 

In case of breakdown of the level 105.85, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 105.85
• Take Profit 1: 105.60
• Take Profit 2: 105.30

Comment:

Technically RSI shows the possibility of an uptrend during the day. 

Key levels:

USD/JPY, D1

Pivot: 105.19

Analysis:

While the price is below 108.15, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 105.19
• Take Profit 1: 104.15
• Take Profit 2: 102.40

Alternative scenario:

If the level 108.15 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 108.15
• Take Profit 1: 109.65
• Take Profit 2: 111.20

Comment:

RSI shows a medium-term downtrend.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

AUD/USD – sell below 0.7200 with 0.7140 and 0.7130 as Take Profit targets. Alternative scenario - if the level of 0.7200 is broken-out you should consider buying with the targets 0.7230 and 0.7255 as Take Profit.
GBP/USD - short positions below 1.3125 with 1.3045 and 1.3020 targets as Take Profit. Alternative scenario - if the level of 1.3125 is broken-out, buy with the targets 1.3160 and 1.3190 as Take Profit.
USD/CAD - buy above 1.3185 with 1.3260 and 1.3280 targets as Take Profit. Alternative scenario - if the level 1.3185 is broken-down, sell with the TP 1.3160 and 1.3135.