Source: PaxForex Premium Analytics Portal, Technical Insight

Kudlow: The trade deal with China is still in effect.

Also, the White House advisor said:

1. China complies with the terms of the game;

2. The following assistance package may include tax refunds;

3. There will be no new restrictions against the coronavirus at the national level.

USD/JPY, 30 min

Pivot: 106.56

Analysis:

Provided that the currency pair is traded above 106.35, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 106.56
• Take Profit 1: 106.70
• Take Profit 2: 106.85

Alternative scenario: 

In case of breakdown of the level 106.35, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 106.35
• Take Profit 1: 106.20
• Take Profit 2: 106.05

Comment:

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

Key levels:

USD/JPY, D1

Pivot: 106.85

Analysis:

While the price is below 108.50, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 106.85
• Take Profit 1: 106.00
• Take Profit 2: 104.50

Alternative scenario:

If the level 108.50 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 108.50
• 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 intra-day trading:

EUR/USD – sell below 1.1340 with 1.1300 and 1.1280 as Take Profit targets. Alternative scenario - if the level of 1.1340 is broken-out, you should consider buying with the targets 1.1375 and 1.1400 as Take Profit.
GBP/USD - short positions below 1.2535 with 1.2495 and 1.2470 targets as Take Profit. Alternative scenario - if the level of 1.2535 is broken-out, buy with the targets 1.2560 and 1.2585 as Take Profit.
USD/CAD - buy above 1.3525 with 1.3570 and 1.3590 targets as Take Profit. Alternative scenario - if the level 1.3525 is broken-down, sell with the TP 1.3505 and 1.3485.