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USD/JPY Technical Analysis: Bulls await a sustained move beyond 109.00 handle amid US-China trade optimism

   •  The pair's intraday retracement slide from levels just above the 109.00 handle managed to find decent support at a short-term ascending trend-line, also nearing 55-hour EMA.

   •  Technical indicators on hourly charts have been steadily gaining bullish traction and support prospects for an extension of the ongoing recovery move from flash-crash lows.

   •  Having said that, oscillators on the daily chart have just recovered from the oversold zone and remain well within the bearish territory, warranting some caution at higher levels.

   •  However, given the US-China trade optimism, a sustained move beyond the 109.00 handle might prompt some short-covering move and pave the way for additional gains.

USD/JPY 1-hourly chart

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