USDJPY is consolidating in a narrow range between 108.62 and 108.03 for the past three trading days. The pair was holding well above 108 levels on US-China trade optimism and rising US bond yield. The demand for riskier assets has increased after talks between the US and China. But still markets eyes next week high-level talks for further direction.
On the flip side, near term intraday support is around 108 and any violation below will drag the pair down till 107.70/107.40.
The near term resistance is at 108.65 and any break above targets 109.30/110.
It is good to buy on dips around 108.15-20 with SL 107.70 for TP of 109.30.
