USD/JPY remains positive around three week top amid optimism surrounding the US-China trade deal. Pair’s sustained trading beyond 200-day SMA favors run-up to monthly high, 110.00 round-figure. Following the USD/JPY pair’s first positive closing beyond 200-day Simple Moving Average (SMA) in nearly three weeks, the quote takes the bids to 109.15 amid pre-European session on Wednesday. Not only pair’s sustained trading beyond the key SMA, optimism surrounding the phase one trade deal between the United States (US) and China also increases the odds of further prices increase. Read: Sources: There is a major push to get the deal done and Phase One deal text is being finalized – WSJ As a result, traders will now take aim at the monthly high close to 109.50 ahead of targeting the 110.00. Also, 61.8% Fibonacci retracement of April-August downpour, at 109.40, can offer an additional upside barrier. On the contrary, a daily closing below 200-day SMA level of 108.93 could drag the quote to a 50% Fibonacci retracement level of 108.45 and monthly support line near 108.35. USD/JPY daily 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: Construction sector downturn extended into the second half of 2019 – Westpac FX Street 3 years USD/JPY remains positive around three week top amid optimism surrounding the US-China trade deal. Pair's sustained trading beyond 200-day SMA favors run-up to monthly high, 110.00 round-figure. Following the USD/JPY pair's first positive closing beyond 200-day Simple Moving Average (SMA) in nearly three weeks, the quote takes the bids to 109.15 amid pre-European session on Wednesday. Not only pair's sustained trading beyond the key SMA, optimism surrounding the phase one trade deal between the United States (US) and China also increases the odds of further prices increase. Read: Sources: There is a major push to get the deal done and… 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.
