USD/JPY’s hourly chart shows a symmetrical triangle breakout. Risk appetite recovers as President Trump confirms that the China trade deal is intact. USD/JPY made a quick recovery from session lows near 106.75 to print session highs above 107.20 after President Trump tweeted that the China trade deal is not over. The bid tone around the Japanese yen strengthened, pushing USD/JPY lower by 25 pips about an hour ago after White House adviser Peter Navarro told Fox News that President Trump has decided to terminate the China trade deal in light of growing evidence that the coronavirus originated in Wuhan laboratory. The sharp recovery from 106.75 to 107.20 has confirmed a symmetrical triangle breakout on the hourly chart. The pattern indicates that the sell-off from the June 5 high of 109.85 has ended and the bulls have regained control. The next major resistance is seen at 107.64 (June 15 high), which, if breached, would confirm a double bottom breakout on the hourly chart and could yield a rally to 108.50 (target as per the measured move method). The bias would turn bearish if the pair finds acceptance under 106.74 (the low of the previous hourly candle). Hourly chart Trend: Bullish Technical levels 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 Bitcoin Sentiment Analysis: Bitcoin paces towards $10,000 on PayPal crypto integration rumors FX Street 2 years USD/JPY's hourly chart shows a symmetrical triangle breakout. Risk appetite recovers as President Trump confirms that the China trade deal is intact. USD/JPY made a quick recovery from session lows near 106.75 to print session highs above 107.20 after President Trump tweeted that the China trade deal is not over. The bid tone around the Japanese yen strengthened, pushing USD/JPY lower by 25 pips about an hour ago after White House adviser Peter Navarro told Fox News that President Trump has decided to terminate the China trade deal in light of growing evidence that the coronavirus originated in Wuhan laboratory. … 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.