USD/JPY: The dollar rebounded from a 1-week low as risk sentiment slightly improved after President Donald Trump stated that U.S. complaints against Huawei Technologies Co Ltd might be resolved within the framework of a U.S.-China trade deal. However, the upside remains limited as escalating trade tensions and weak U.S. data fuelled rate cut expectations from the Fed. The major was trading 0.1 percent up at 109.68, having hit a high of 110.67 on Tuesday, its highest since May 7. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. durable goods orders. Immediate resistance is located at 110.11 (May 11 High), a break above targets 110.67 (May 21 High). On the downside, support is seen at 109.01 (May 13 Low), a break below could take it lower at 108.80 (Jan. 30 Low).
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