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USD/JPY chart on Trading View used for analysis
- USD/JPY is trading rangebound on the day at 113.46 at the time of writing.
- The pair has held support at 5-DMA on Tuesday's trade and has edged higher.
- Positive comments from Trump has boosted risk assets and helping the pair higher.
- Trump said that he would intervene in the Huawei CFO case if it would help him reach a trade deal with China and boost national security.
- He said that negotiations are happening and expressed readiness to meet President Xi Jinping again if required.
- The pair is trading with a neutral to slightly bullish bias on the daily charts.
- Break below 5-DMA could see some weakness. Bullish invalidation below 110-EMA.
- Continuation of bullish momentum will see test of 113.85 (trendline resistance).
Support levels - 113.10 (5-DMA), 112.27 (110-EMA)
Resistance levels - 113.85 (trendline resistance), 114
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
