Sample Category Title

Trump was in a trade summit with Japanese Prime Minister Shinzo Abe today, as part of his four-day trip to Japan. In the post meeting joint press conference, Trump said he hoped to announce a trade deal with Japan very soon. He described trade imbalance with Japan as "unbelievable large". He added "they are brilliant business people, brilliant negotiatiors and have put us in a tough spot but I think we will have a deal with Japan." Earlier on before the meeting, Trump said: "Trade-wise, I think we'll be announcing some things, probably in August, that will be very good for both countries... We'll get the balance of trade, I think, straightened out rapidly."

Abe said the two leaders had agreed to accelerate two-way tarde talks. Earlier today, the Japanese government announced new rules to limit foreign ownership of high-tech corporations, effective August 1. The government said that the rule aims at preventing leakage of technology deemed important for national security or damage to defense output and technological foundation.

The new rule is believed to be targeted at China, which was widely accused of the IP theft. However, there is no mention of specific countries or companies that will be affected by such foreign ownership restrictions. Thus, based on the principle of reciprocity, if Japanese steel is security risks to the US, American companies could be risks to Japan too. It's all up to bilateral relationship and interpretations.

Pivot (invalidation): 1283.00

Our preference Long positions above 1283.00 with targets at 1291.00 & 1293.50 in extension.

Alternative scenarioBelow 1283.00 look for further downside with 1280.50 & 1277.00 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 2820.00

Our preference Long positions above 2820.00 with targets at 2837.00 & 2851.50 in extension.

Alternative scenario Below 2820.00 look for further downside with 2805.50 & 2791.00 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 12085.00

Our preference Short positions below 12085.00 with targets at 11950.00 & 11910.00 in extension.

Alternative scenario Above 12085.00 look for further upside with 12130.00 & 12170.00 as targets.

Comment As Long as 12085.00 is resistance, look for choppy price action with a bearish bias.

Pivot (invalidation): 1.0005

Our preference Long positions above 1.0005 with targets at 1.0040 & 1.0060 in extension.

Alternative scenario Below 1.0005 look for further downside with 0.9990 & 0.9970 as targets.

Comment The RSI calls for a new upleg.

Pivot (invalidation): 1.3425

Our preference Long positions above 1.3425 with targets at 1.3465 & 1.3480 in extension.

Alternative scenario Below 1.3425 look for further downside with 1.3410 & 1.3390 as targets.

Comment The RSI calls for a rebound.

Pivot (invalidation): 0.6915

Our preference Long positions above 0.6915 with targets at 0.6950 & 0.6960 in extension.

Alternative scenario Below 0.6915 look for further downside with 0.6900 & 0.6880 as targets.

Comment The break above 0.6915 is a positive signal that has opened a path to 0.6950.

Pivot (invalidation): 6.1030

Our preference Short positions below 6.1030 with targets at 6.0650 & 6.0420 in extension.

Alternative scenario Above 6.1030 look for further upside with 6.1280 & 6.1500 as targets.

Comment A break below 6.0650 would trigger a drop towards 6.0420.

Pivot (invalidation): 109.25

Our preference Long positions above 109.25 with targets at 109.70 & 109.95 in extension.

Alternative scenario Below 109.25 look for further downside with 109.00 & 108.80 as targets.

Comment The RSI calls for a rebound.

Pivot (invalidation): 1.2705

Our preference Long positions above 1.2705 with targets at 1.2745 & 1.2760 in extension.

Alternative scenario Below 1.2705 look for further downside with 1.2680 & 1.2655 as targets.

Comment The break above 1.2705 is a positive signal that has opened a path to 1.2745.