USD / JPY Economic Breakout
On November 21, USD / JPY consolidated and rose in value following weekly highs. Bulls are looking for USD / JPY breakout to 109.00 today. After two days of disappointing statistics, it did better today and score points thanks to positive news from the trading front.
Thus, the President of the United States, Trump, announced a theoretical rapprochement between China and the United States regarding the conclusion of a trade deal. Moreover, Donald Trump said he would likely not sign the Hong Kong human rights bill that was approved by Congress last week.
China announced that penalties for infringement of intellectual property rights will be increased. It boils down to a breakthrough in trade negotiations. The yen weakened amid risk appetite in the markets, which was the source of the currency pair’s gain. The US dollar was supported by Good Friday PMI data.