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USD/JPY chart on Trading View used for analysis
- USD/JPY is trading in a narrow range, consolidating gains above 113 handle.
- The major has closed above 21-EMA raising scope for further upside.
- Technical studies support upside and we see scope for test of trendline resistance at 114.15.
- A positive tone seen around the Asian equities today is likely to keep the pair supported.
- Markets cheer progress from Italy on govt signals willingness to negotiate with Brussels and curb the deficit.
- Investors’ focus will be mainly on Xi-Trump talks at the G-20 leaders’ meeting later this week as trade tensions continue.
Support levels - 113.015 (21-EMA), 112.30 (Nov 20th low)
Resistance levels - 114, 114.15 (Upper BB), 114.55 (Oct 4 high)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
