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Major support- 108.60
USDJPY has recovered slightly after a minor decline till 108.89. The overall trend is bullish as long as support 108 holds. The easing US-China tension is supporting the prices at lower levels. It hits an intraday high of 109.29 and is currently trading around 109.21.
US 10-year yield was soaring and jumped more than 15%. It hits a high of 1.97% and is currently trading at 1.94%. It is holding above major resistance 1.91% and an increase till 2.14% likely.
The near-term major resistance is around 109.50, any violation above confirms trend continuation, a jump till 110/110.60.
On the flip side, support stands at 108.60 and the break below will drag the pair down till 108. Any daily close below 108 (50- day MA) targets 106.80.
It is good to buy on dips around 109 with SL around 108.60 for the TP of 110/110.60
