The US dollar is trading towards the best levels of the week against the Japanese yen, following reports that a minor Sino-US trade deal may be on the cards. The 108.50 level is now the key technical area that bulls will need to break to encourage a test of the 108.80 level. Overall, the USDJPY pair now has a strong bullish bias while trading above the 107.45 resistance level.
• The USDJPY pair is only bearish while trading below the 107.45 level, key technical support remains at the 106.90 and 106.00 levels. • The USDJPY pair is only bullish while trading above the 107.45 level, key resistance is found at the 108.50 and 108.80 levels