US-China trade optimism continues to fuel the ongoing bullish momentum. Sustained move beyond mid-108.00s will set the stage for additional gains. The USD/JPY pair finally broke out of its daily consolidative trading range and jumped to near two-week tops, around the 108.25 region in the last hour. A sustained move above 100-day EMA was seen as a key trigger for bullish traders and remained supportive of some follow-through buying interest on Friday. The pair is now trying to build on the momentum further beyond a four-month-old descending trend-line resistance amid growing US-China trade optimism. This is closely followed by 50% Fibonacci retracement level of the 112.40-104.45 downfall, which if cleared will set the stage for a further near-term appreciating move. Beyond the said hurdle around mid-108.00s, the pair is likely to aim towards reclaiming the 109.00 handle en-route 61.8% Fibo. resistance near the 109.30-35 region. On the flip side, any meaningful pullback now seems to find some support near the 107.85 region (100-day EMA), which if broken might negate the constructive outlook. USD/JPY daily chart 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 Forex News Today: Daily Trading News share Read Next Eurozone portfolio story doesn’t look that bad for EUR – ING FX Street 4 years US-China trade optimism continues to fuel the ongoing bullish momentum. Sustained move beyond mid-108.00s will set the stage for additional gains. The USD/JPY pair finally broke out of its daily consolidative trading range and jumped to near two-week tops, around the 108.25 region in the last hour. A sustained move above 100-day EMA was seen as a key trigger for bullish traders and remained supportive of some follow-through buying interest on Friday. The pair is now trying to build on the momentum further beyond a four-month-old descending trend-line resistance amid growing US-China trade optimism. This is closely… 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.