USD/JPY retreats from intraday high while staying above short-term support line. US-China trade tussle, virus woes renew US dollar buying. 200-HMA adds to the support ahead of previous week’s low. 108.10 becomes key upside barrier beyond immediate resistance line. USD/JPY recedes from the intraday high of 107.76 to 107.63, still up 0.08% on a day, during the pre-European session on Thursday. Despite the latest pullback, the yen pair stays above a two-week-old support line, at 107.40, which joins the recent risk aversion wave to keep the bulls hopeful of further upside. If at all the pair drops below 107.40 support line, 200-HMA near 107.30 will check the bears ahead of pleasing them with the previous week’s low near 106.75. Meanwhile, an upside clearance of the immediate resistance line from Tuesday’s top, currently around 107.75, will pus the pair again towards 108.10 horizontal resistance comprising multiple tops since mid-April. In a case where the bulls manage to cross 108.10 on a daily closing basis, the April monthly peak surrounding 109.40 could lure the bulls. USD/JPY hourly chart Trend: Bullish 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 Australia’s Byres: Banks’ capital buffers expected to fall over coming year FX Street 2 years USD/JPY retreats from intraday high while staying above short-term support line. US-China trade tussle, virus woes renew US dollar buying. 200-HMA adds to the support ahead of previous week’s low. 108.10 becomes key upside barrier beyond immediate resistance line. USD/JPY recedes from the intraday high of 107.76 to 107.63, still up 0.08% on a day, during the pre-European session on Thursday. Despite the latest pullback, the yen pair stays above a two-week-old support line, at 107.40, which joins the recent risk aversion wave to keep the bulls hopeful of further upside. If at all the pair drops below 107.40 support… 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.
