USD/JPY: The dollar surged, halting a 3-day losing streak, as investors’ risk appetite ticked up after the United States shelved plans to impose tariffs on Mexico. However, fresh U.S. trade threats against China limited the upside. The major was trading 0.1 percent up at 108.57, having hit a high of 108.71 on Monday, its highest since May 31.
Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index. Immediate resistance is located at 108.87 (50.0% retracement of 109.92 and 107.81), a break above targets 109.47 (78.6% retracement). On the downside, support is seen at 107.88 (June 3 Low), a break below could take it lower at 107.51 (Jan. 4 Low).
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