US-China trade uncertainties provided a goodish lift to the JPY’s safe-haven status. Weaker US bond yields weighed on the USD and added to the intraday selling bias. Traders now look forward to US Consumer Confidence data for some fresh impetus. The USD/JPY pair traded with a negative bias through the early European session on Tuesday and is currently placed at the lower end of its daily trading range, just above mid-105.00s. Despite the latest trade-related optimism, the pair failed to capitalize on the previous session’s strong rebound of nearly 200-pips from multi-year lows and met with some fresh supply on Tuesday amid reviving safe-haven demand for the Japanese Yen. US-China trade uncertainty continues to benefit JPY The fact that China’s foreign ministry denied news of any US-China phone calls raised doubts over the resolution of the US-China trade issues in the near future and falling US Treasury bond yields further reflect that the market is still skeptical. Deteriorating risk sentiment was further evident from some renewed weakness in the global equity markets, which coupled with a subdued US Dollar demand further collaborated to the pair’s offered tone for the third session in the previous four. It would now be interesting to see if the pair is able to attract any buying interest at lower levels or the current pullback marks the resumption of the prior bearish trend as the focus remains on the incoming trade-related headlines/developments. Later during the early North-American session, the US economic docket – highlighting the release of the Conference Board’s Consumer Confidence Index – will be looked upon to grab some short-term trading opportunities. 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 UK Labour’s Starmer: Legislation must be in plan to stop no-deal Brexit FX Street 4 years US-China trade uncertainties provided a goodish lift to the JPY's safe-haven status. Weaker US bond yields weighed on the USD and added to the intraday selling bias. Traders now look forward to US Consumer Confidence data for some fresh impetus. The USD/JPY pair traded with a negative bias through the early European session on Tuesday and is currently placed at the lower end of its daily trading range, just above mid-105.00s. Despite the latest trade-related optimism, the pair failed to capitalize on the previous session's strong rebound of nearly 200-pips from multi-year lows and met with some fresh supply… 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.