USD/JPY maintains in a bullish trend. USD/JPY reaches from the intraday high near 107.80 to 107.65 in the early trading session on Monday. Japan’s Economy Minister Nishimura is about making an announcement that the lockdown will be lifted in Tokyo, Kanagawa, Hokkaido and Saitama. Also Japanese government is ready to provide another aid package worth $1 trillion for the overcoming the coronavirus effect, but US-China remains the main concern for the traders

Global policymakers are against china which is led by US diplomats since China is ready for Hong Kong’s autonomy at the 13th National People’s Congress (NPC).

China’s Global Times continues to use harsh words for the recent US decisions as more political. The US policymakers are framing a bill that would restrict Chinese companies’ listing on the American exchanges. Additionally, the Trump administration is also waiting for White House approval to sanction Chinese diplomats in the Xinjiang case.

Further, Japan’s Leading prior Economic Index 83.8 and Coincident Index 90.5 could be a catalyst in setting the direction of the pair, but we should not forget that US-China remains the main catalyst in the market.

USD/JPY 4 Hour Chart:

Support: 107.36 (S1), 107.12 (S2), 106.68 (S3).

Resistance: 107.80 (R1), 108.00 (R2), 108.45 (R3).

The market tensions have created a bullish trend for USD/JPY.