Positive trade headlines undermined JPY’s safe-haven demand. The USD remained well supported by Friday’s upbeat US macro data. Bulls await a sustained move beyond 200-DMA or the 109.00 handle. The USD/JPY pair caught some fresh bids on Monday and jumped to one-week tops in the last hour, with bulls still awaiting a move beyond the 109.00 handle. Following two consecutive days of directionless trading action, the pair finally managed to regain some positive traction on the first day of a new trading week and was being supported by broadly upbeat US-China trade-related headlines. Trade optimism remained supportive Speaking on Fox News, The US President Donald Trump on Friday said that a deal with China was “potentially very close,” and also indicated that he might not sign a bill passed by Congress that supports Hong Kong. Adding to this, Chinese President Xi Jinping also said Friday that he wants to reach an agreement, the US National Security Adviser Robert O’Brien on Saturday further revived hopes of possible dealy by the end of this year. Keeping hopes for a breakthrough in trade talks alive, China announced plans for improving the protection of intellectual property rights over the weekend and collaborated towards denting the Japanese yen’s perceived safe-haven status. On the other hand, the US dollar remained well supported by Friday’s mostly positive US economic data – flash US Manufacturing/Services PMI, Philadelphia Fed Manufacturing index and Michigan Consumer Sentiment index. However, scepticism and weariness of news flow about US-China trade negotiations might keep investors cautions and turned out to be one of the key factors that might keep a lid on any runaway rally for the major, at least for now. Hence, it will be prudent to wait for some strong follow-through buying beyond the very important 200-day SMA, currently near the 109.00 mark, before positioning for any further near-term appreciating move for the pair. Technical levels to watch 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 Ripple price analysis: XRP/USD knocks on $0.20, why recovery remains to be a pipe dream? FX Street 3 years Positive trade headlines undermined JPY's safe-haven demand. The USD remained well supported by Friday's upbeat US macro data. Bulls await a sustained move beyond 200-DMA or the 109.00 handle. The USD/JPY pair caught some fresh bids on Monday and jumped to one-week tops in the last hour, with bulls still awaiting a move beyond the 109.00 handle. Following two consecutive days of directionless trading action, the pair finally managed to regain some positive traction on the first day of a new trading week and was being supported by broadly upbeat US-China trade-related headlines. Trade optimism remained supportive Speaking on Fox… Regulated 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.
