USDJPY awaiting trade talks outcome
The US dollar is consolidating just below the key 109.00 level against the Japanese yen currency as traders await the outcome of the latest Sino-US trade talks. Bullish trade talk news may push the USDJPY pair towards the 110.00 level, while bearish news may lead to losses towards the 108.10 level. The MACD indicator on the four-hour time frame has reached neutral levels.
The USDJPY pair is bullish while trading above the 109.10 level, key technical resistance is found at the 109.40 and 110.00 levels.
If the USDJPY pair trades below the 108.80 level, sellers may test towards the 108.40 and 108.10 support levels.