EUR/JPY has been offered from a high of 120.58 to a low of 120.32 in the Asian session and has taken on the 21-hour moving average as a support level while markets digest the implications of the US actions. In early Asia, Trump signed the Hong Kong bills into law, amove which jeopardizes headway between China and the US with respect to a so-called “phase-one” deal. There had been a slight knee-jerk reaction in risk-fx, supporting abid in the yen, but it is barely reflecting the possible ramifications of such a move by the US.
EUR/JPY LONG (Buy)
ENTER AT: 120.480