USD/JPY: Set to react to any trade headline [Video]
|USD/JPY
The outlook for the USD/JPY remains mixed as the run of contradictory candles continues. The market continues to trade within the trading band of around 200 pips, with support 106.50/106.75 and the recent failures a shade under 108.50. However, there is a mid-range pivot at 107.50 which the market is now just edging above. The question is whether a mild improvement in the (sensitive) Stochastics and RSI is a suggestion of improving momentum to be backed. Having consistently tested the 106.50/106.75 support, the market has now posted three successive higher lows and is beginning to edge higher. However, given the lack of conviction in the technical signals and the drift back into the middle of the recent range, it is still a market looking for direction. Perhaps given the importance of the trade talks today and tomorrow, this should be expected.
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