US Dollar is mildly positive against the Japanese Yen for fourth straight session and is now around 109.35 area posting two and a half week top.
The overnight news about the US considering to lift the trade tariff imposed on China was cheered by the markets and eventually improved the risk sentiment. The news helped US stocks to rally that dented the safe haven status of Japanese Yen.
However, the US Dollar lacks strong conviction in its recent uptick move amid dovish Fed.
Closing above 109.10 on daily basis will confirm bearish exhaustion and open the doors to 110.00 psychological mark.
However, outlook is bearish as the price is still below the 100-day moving average which is currently around 112.07.
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