USD/JPY Bullish short-term gainsUSD/JPY has hit four-month highs amid optimism on trade and Brexit. Mid-October's daily chart is painting a bullish picture.
China has reported the slowest growth level since the 1990s – an annual increase of only 6% in Gross Domestic Product in the third quarter. The world's second-largest economy continues experiencing a slowdown .
Ultimately the bigger picture is of a slowing global economy, and that points to falls in USD/JPY.
Upside momentum on the daily chart and has crossed the 108.50 level – which was a considerable resistance line, now serving as support.
Resistance awaits at the 109-109.10 region Looking down below 108.50, the next cushion awaits at 108.15, which limited USD/JPY's gains in late September. Next, 107.50
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