“¢ Easing US-China trade tensions weigh on JPY’s safe-haven appeal. “¢ Persistent USD buying/resurgent US bond yields provide an additional boost. The USD/JPY pair continued gaining positive traction for the second consecutive session on Thursday and refreshed weekly tops in the last hour. A continuous improvement in investors’ appetite for riskier assets – like equities, amid easing US-China trade tensions, was seen weighing on the Japanese Yen’s safe-haven appeal and remained supportive of the strong bid tone surrounding the major. This coupled with a follow-through US Dollar upsurge, further supported by buoyant US Treasury bond yields provided an additional boost to the pair’s ongoing recovery from over one-week lows touched earlier this week. The US bond yields were propped higher by remarks from the Fed Chair Jerome Powell, who said on Wednesday that the US central bank would stick to its path of gradual monetary policy tightening cycle. Today’s up-move could further be attributed to some fresh technical buying, especially after yesterday’s decisive move back above the very important 200-day SMA barrier. It, however, remains to be seen if bulls are able to maintain their dominant position or the up-move once again fizzles out ahead of the 111.00 handle. Moving ahead, today’s second-tier US economic docket, featuring the release of Philly Fed manufacturing index and the usual weekly initial jobless claims data will now be looked upon for some fresh trading impetus later during the early North-American session. Technical levels to watch The 110.80-90 region might continue to act as an immediate resistance, above which the pair seems all set to extend the momentum further towards the 111.40 area (May monthly top). On the flip side, retracement back below mid-110.00s now seems to find immediate support near the 110.25-20 region (200-DMA), which if broken might turn the pair vulnerable to slip back below the key 110.00 psychological mark and retest 109.80-75 support area. 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 India: RBI minutes suggest one hike is no guarantee for the next – Nomura FX Street 5 years "¢ Easing US-China trade tensions weigh on JPY's safe-haven appeal. "¢ Persistent USD buying/resurgent US bond yields provide an additional boost. The USD/JPY pair continued gaining positive traction for the second consecutive session on Thursday and refreshed weekly tops in the last hour. A continuous improvement in investors' appetite for riskier assets - like equities, amid easing US-China trade tensions, was seen weighing on the Japanese Yen's safe-haven appeal and remained supportive of the strong bid tone surrounding the major. This coupled with a follow-through US Dollar upsurge, further supported by buoyant US Treasury bond… 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.