USD/JPY chart - Trading View
USD/JPY a three-day winning streak as risks remain positive amid US stimulus hopes, light calendar.
The major hit session highs at 103.99 before paring some gains to trade at 103.82 at around 03:40 GMT.
News suggesting the US Congress push for President Donald Trump’s immediate resignation which widens scope for Democrats and further stimulus, which in turn favor risk.
Price action has broken trendline resistance at 103.65 and is currently trading shy of 55-EMA at 104.06.
Technical indicators have turned slightly bullish on the intraday charts, but major trend still remains bearish.
Breakout at 55-EMA could see further push higher. Next major hurdle aligns at daily cloud at 104.32. Failure to hold above 21-EMA will negate any upside bias.
