USD/JPY chart - Trading View
USD/JPY was struggling to extend gains of the previous two sessions, slips 0.13% to trade at 110.13 at around 04:50 GMT.
Lack of clarity over US President Joe Biden’s infrastructure spending plan, as well as the US budget, keep downside pressure.
US President Joe Biden expects the infrastructure deal although the Senators voted against the opening debate the pushed back the negotiations to next week.
Escalating US-China tussles as US Trade Representative Katherine Tai backs Australia in its trade dispute with China, also keep the pair depressed.
Technical bias has turned slightly bullish. 5-DMA has turned and Stochs confirm a bullish rollover from oversold levels.
20-DMA is immediate resistance at 110.39, break above will buoy bulls. Bullish invalidation only below daily cloud.
