12 Dec 2019
USD/JPY Price Analysis: Greenback jumps to four-day highs as trade tension ease
- USD/JPY broke above the 109.00 handle as Trump is upbeat on the trade deal.
- Resistance is seen at the 109.26 and 109.43 price levels.
USD/JPY daily chart
USD/JPY is nearing the 109.00 handle while piercing above the 200-day simple moving average (DMA). The Japanese yen is getting dumped as President Trump tweeted: “Getting VERY close to a BIG DEAL with China. They want it, and so do we!”. The market switched to risk-on after it with equities jumping and gold dropping.
USD/JPY four-hour chart
The spot is spiking to the upside, breaking above the 109.04 resistance and the main SMAs. The quote could reach the 109.26 and 109.43 price levels, according to the Technical Confluences Indicator.
Additional key levels