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