“¢ Escalating US-China trade tensions continue to underpin JPY’s safe-haven appeal. “¢ A modest USD rebound/positive equities helped limit further downside for now. The USD/JPY pair held on to its weaker tone through the mid-European session, albeit has managed to recover around 25-pips from session lows. Mounting US-China trade tensions continued boosting the Japanese Yen’s safe-haven appeal and kept exerting downward pressure on the major for the second consecutive session. The pair dropped back to two-week lows, set yesterday, but once again managed to find decent support near 55-day SMA, around the 109.40-35 region. However, some signs of stability in global financial markets, following yesterday’s trade war fear-led sell-off, coupled with a goodish pickup in the US Dollar demand helped the pair to recover a major part of early declines. Bulls also seemed to track a modest rebound across European equity markets and mildly positive US bond yields, although failed to assist the pair to move in positive territory, or back above the key 110.00 psychological mark. Today’s US economic docket, highlighting the release of Conference Board’s consumer confidence index, followed by Atlanta Fed President Raphael Bostic’s scheduled speech might produce some meaningful trading opportunities during the North-American session. Technical levels to watch The 109.75-80 area is likely to act as an immediate resistance and is followed by the 110.00 handle and the very important 200-day SMA hurdle near the 110.20-25 region. On the flip side, the 109.40-35 region might continue to protect the immediate downside, which if broken is likely to accelerate the fall towards the 109.00 round figure mark. 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 Trade risks and slowing PMI momentum contain long bond yields – Nordea Markets FX Street 5 years "¢ Escalating US-China trade tensions continue to underpin JPY's safe-haven appeal. "¢ A modest USD rebound/positive equities helped limit further downside for now. The USD/JPY pair held on to its weaker tone through the mid-European session, albeit has managed to recover around 25-pips from session lows. Mounting US-China trade tensions continued boosting the Japanese Yen's safe-haven appeal and kept exerting downward pressure on the major for the second consecutive session. The pair dropped back to two-week lows, set yesterday, but once again managed to find decent support near 55-day SMA, around the 109.40-35 region. However, some… 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.