JPY News 

USD/JPY inches higher as buyers look to build further upside momentum

“More noticeably, price is starting to feel more comfortable holding a break above the 109.00 handle with buyers also looking to secure a firm break above the 200-day MA (blue line)” reports forexlive.com. Talks of a “broad consensus” and being “very close” to a deal is helping to keep USD/JPY slowly inching higher but are we building up towards a ‘buy the rumour, sell the fact’ play?. As things stand, it is still all about the US-China trade rhetoric for yen pairs and the mood is that of cautious optimism so far this week.It may not immediately take place but it will be something to be wary about in case markets get too exhausted in chasing the optimism over the past few weeks.That will shift the bias in the pair to be more bullish but I reckon buyers will feel more comfortable only if price starts to chase a move above the 61.8 retracement level @ 109.37 instead – which limited the early November gains.
 
Source: forexlive.com



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