US Sec of State Pompeo: US is 'increasingly at risk from China's actions'

Ross J Burland FXStreet

US Secretary of State Pompeo has crossed the wires saying that the US is `increasingly at risk from China's actions'.

FX implications

Despite such a negative comment, we are seeing USD/JPY rally to the highest levels since May 2019. Markets are risk-on due to the sentiment for improved relations between the US and China.

USD/JPY Price Analysis: Pullback to Cloud/Bollinger-Band targets could be in play

USD/JPY has traded through 109.73 key resistance and the 2018 trendline.
Price is stalling just ahead of the Bolinger Band (BB) top.
Bulls looking for a discount could look to the top of daily cloud confluence area.
Bulls can target 110.50s for confluence resistance target.
Failures here opens risk to 100% retracement of the recent rally from 107.80s – But, 200-DMA and 23.6% Fibo confluence first critical support target.

Extra reading: USD/JPY takes on 110 handle for first time since May

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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