Fundamentally safe heaven JPY is still favorable. but USD/JPY reached the bottom, so the corrective bounce is expected. Next week the FOMC and Jackson Hole Symposium will play good roles on USD/JPY. The market is expecting fed will cut-rate, more two times this year. But US economic report coming better than expected recent days. so FED may delay cut rates next September. So it has a good chance USD/JPY continue corrective mode to 108.20 price zone.
On the other hand, US-CHINA trade war issues have not been solved yet. so, in the long run, safe heaven JPY will be benefited; So we can put our sell limit at 108.20 and stop-loss above 109.27. because of recent swing high at 109.27. and take profit should be near at 105.20 to 105.00 price zone.
On the other hand, US-CHINA trade war issues have not been solved yet. so, in the long run, safe heaven JPY will be benefited; So we can put our sell limit at 108.20 and stop-loss above 109.27. because of recent swing high at 109.27. and take profit should be near at 105.20 to 105.00 price zone.