USDJPY: 109.30 is an important level - TDS

Analysts at TDS continue to see EURUSD to trade defensively in part off the back of a positioning adjustment that creates demand for dollars, but USDJPY may be the exception however, where the recent escalation of trade tensions and wobbly risk sentiment should sustain interest to sell cross/JPY.

Key Quotes

“We view 109.30 as an important line in the sand that would accelerate declines in USDJPY if broken (which we expect) and put 108 "neckline" head and shoulders support into view.”