The USD/JPY made a strong move up after US-Chinese news re tariffs. The deal is possible and we might see a fewer rate cuts.
Despite the strong spike, we could see a drop from 106.50-65 and 107.10-20 if the price retraces a bit more. Two POC zones are still holding the price below the Weekly resistance levels. W H5 is the final resistance and the trend will turn bullish if the pair makes a close above it. For a bearish move, targets are 106.15 and 105.89. Below 105.89 we could see a retest of 105.14.
The analysis has been done with the CAMMACD.MTF template.
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