A flag breakout seen on USD/JPY’s daily chart suggests scope for a rally to 110.80. The bullish setup would fail if the US-China trade talks collapse. USD/JPY is currently trading unchanged on the day around 107.95, having hit a high of 108.31 at 00:55 GMT. Despite the pullback, the outlook remains bullish, as the bullish breakout confirmed on Thursday is still valid. The pair closed at 107.95 yesterday, confirming a flag breakout on the daily line chart. The pattern indicates the rally from recent lows near 105.00 has resumed and has created room for a rise to 110.80 (target as per the measured move method). That target could be reached in the next week or two if the US and China announce a partial trade deal. President Trump is scheduled to meet China’s Vice Premier Liu He at 18:45 GMT on Friday. The flag breakout will likely fail if the trade negotiations end on a sour note, paving the way for further escalation of a trade war. Daily 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 Forex News Today: Daily Trading News share Read Next USD/CHF technical analysis: Holds steady above 200-DMA, poised to reclaim parity mark FX Street 4 years A flag breakout seen on USD/JPY's daily chart suggests scope for a rally to 110.80. The bullish setup would fail if the US-China trade talks collapse. USD/JPY is currently trading unchanged on the day around 107.95, having hit a high of 108.31 at 00:55 GMT. Despite the pullback, the outlook remains bullish, as the bullish breakout confirmed on Thursday is still valid. The pair closed at 107.95 yesterday, confirming a flag breakout on the daily line chart. The pattern indicates the rally from recent lows near 105.00 has resumed and has created room for a rise to… 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.
