USD/JPY nears a six-month high
USD/JPY has carved out a solid series of higher lows and is now threatening to break the May high of 111.40.
The pair is up 47 pips to 111.31 today in the second day of solid gains in a backdrop of higher stocks and lower trade tensions. If the 111.40 resistance breaks, it will mark a six-month high for USD/JPY.
Naturally, the trade worries aren't going away but the technicals here should be dominant. The trade war/skirmish is part of the background noise at this point and you need to go where the charts are leading.