USDJPY BOOSTED BY US AND CHINA TRADE TALKS
The US dollar has maintained recent bullish momentum against the Japanese yen currency, as news that the US and China may enter into a new round of trade talks has boosted risk-on trading sentiment. USDJPY buyers must now go on to break the 111.75 resistance level, while USDJPY sellers will attempt to push the price below the 111.25 support level. Caution is advised as the US Dollar Index is starting to weaken across the board.
The USDJPY pair is only bullish while trading above the 111.37 level, key resistance remains at the 111.75 and 112.05 levels.
If the USDJPY pair moves below the 111.37 level, key support is found at the 110.90 and 110.38 levels.