FxWirePro: USD/JPY comatose below 110-EMA as US-China tussle test sentiment, focus on U.S. Jobless Claims data

USD/JPY chart - Trading View 

USD/JPY was trading largely unchanged at 104.59 at around 06:20 GMT, remains capped below 110-EMA.

The pair has formed a Doji on the daily candle on Wednesday's trade, hovers above 21-EMA support.

Renewed U.S.-China trade/political challenges keep sentiment depressed. But, progress in U.S. stimulus talks and Fed Chair Powell’s readiness to act keeps the market mildly positive.

US President Joe Biden continued Donald Trump’s hard stand on Beijing during his first-ever telephonic conversation with Chinese counterpart Xi Jinping.

China's Xi Jinping retaliated with a warning stating that confrontations will be a disaster for both the countries.

Technical bias for the pair has turned bearish again after price action was rejected at 200-DMA. Focus now on the US weekly jobless claims figures. 

Unemployment claims are expected to drop to 757,000 from 779,000. While, Continuing Claims are forecast to decrease to 4.49 million from 4.592 million.

A miss on expectations could see breach at 21-EMA support (104.46). Next major support lies at daily cloud at 104.13.