The US dollar is trading towards the best levels of the week against the Japanese yen, following reports that a minor Sino-US trade deal may be on the cards. The 108.50 level is now the key technical area that bulls will need to break to encourage a test of the 108.80 level. Overall, the USDJPY pair now has a strong bullish bias while trading above the 107.45 resistance level.
The USDJPY pair is only bearish while trading below the 107.45 level, key technical support remains at the 106.90 and 106.00 levels.
The USDJPY pair is only bullish while trading above the 107.45 level, key resistance is found at the 108.50 and 108.80 levels
