FxWirePro: USDJPY trades higher, any break above 109.05 confirms bullishness
Major Intraday support- 108.25
USDJPY is trading flat but the trend is on the higher side on easing trade tension between the US and China. The pair is trading between 108.93 and 108.24 for the past 5 days and any major bullishness only above 109.05 level.
On the flip side, near term intraday support is around 108.55 9200-H MA) and any violation below will drag the pair down till 108.24/108. A major weakness for the day only below 107.70 level.
The major resistance is around 109.05 and any break above confirms that minor weakness from 112.40 got over at 104.44, a jump till 110/112 is possible.
It is good to buy on dips around 108.60-65 with SL around 108.40 for the TP of 109.30.
