USD/JPY – watch for a rebound from rising trend line

Pair’s rebound from rising trend line on hourly if followed by a break above daily open of 110.19 would add credence to bullish crossover between daily 5-SMA and 10-SMA and shift risk in favor of a re-test of 110.60 levels.

On the lower side, break below hourly 200-MA at 109.31 would expose support at 108.50 levels.