USD/JPY: The dollar plunged to a 1-week low, amid mounting expectations that the Federal Reserve will ease monetary policy in coming months. Moreover, worries over U.S.-China trade war continued to dent investor risk appetite. The pair was trading 0.1 percent down at 108.34, having hit a high of 108.80 on Tuesday, its highest since May 31.
Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, and import and export 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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