Trump administration is reportedly planning to publish a list of ‘new’ tariffs that are to be imposed on $200 billion worth of Chinese goods. We have NATO coming up this week and trade war angst is bound to take a front seat again. Meanwhile, there has otherwise been an upbeat tone on the street today, with equities firmly bid that lead to USD/JPY breaking out and making the best finish in NY since early January. USD/JPY is losing the 111 handle in early Asia on the back of trade war noise whereby the Trump administration is reportedly planning to publish a list of ‘new’ tariffs that are to be imposed on $200 billion worth of Chinese goods. USD/JPY has dropped from 111.27 and made a fresh low of 110.82, currently trading at 110.94. Meanwhile, there has otherwise been an upbeat tone on the street today, with equities firmly bid that lead to USD/JPY breaking out and making the best finish in NY since early January. However, fundamentally, the pair can only survive around the cloud base and well-defined downtrend from 2015 at 111.39/55 so long as a firmer Treasury-JGB yield spread can and how long the respite in risk-off sentiment lasts. Â We have NATO coming up this week We have NATO coming up this week and trade war angst is bound to take a front seat again. However, there could be a significant breakout on central bank divergences in the pair so long as the bulls can close through the said levels, or indeed, at least for the short term, hold above the daily Tenkan at 110.66. Thursday’s CPI is a key data event this week that may or may not fit the Fed’s bill while otherwise, the Goldilocks jobs report did just that and keeps the focus on the upside for the time being. Â USD/JPY levels While USD/JPY has been approaching the 111.39 recent high and the 2015-2018 downtrend a deeper correction down to the 55-day ma at 109.96 and the 8th June low at 109.20 could prove problematic to trapped bulls. A break there opens up risk right back to the 108.21 29th May low and the mid- February high at 107.91. Otherwise, a breakout to the upside can target and the long-term downtrend line and weekly Cloud top at 111.47/70. Â FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Risk appetite was positive in London and NY trade – Westpac FX Street 4 years Trump administration is reportedly planning to publish a list of 'new' tariffs that are to be imposed on $200 billion worth of Chinese goods. We have NATO coming up this week and trade war angst is bound to take a front seat again. Meanwhile, there has otherwise been an upbeat tone on the street today, with equities firmly bid that lead to USD/JPY breaking out and making the best finish in NY since early January. USD/JPY is losing the 111 handle in early Asia on the back of trade war noise whereby the Trump administration is reportedly planning to publish… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.