USDJPY continues to trade higher for 3rd consecutive week and jumped nearly 150 pips on easing US-China trade war which has decreased Safe-haven assets demand like gold Swiss franc etc. The pair has formed a temporary top around 107.23 and is hovering near the 107 level. It is currently trading around 106.97.
Technically, the pair is facing strong resistance around 107.20--23 (21- day MA) and any break above will take the pair to next level till 107.86/108.40.
On the flip side, the near term major support stands around 106.50--60 (23.6% fib) and any violation below 106.25/105.50.
It is good to buy on dips around 106.80-85 with SL around 106.21 for the TP of 108.40.


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