Long USD/JPY
Targets: 111, 111.5, 112, and 112.5
Stop loss below 110.2
Reasons:
1. China/US trade war tensions are not likely to escalate as both parties may reach a good agreement.
2. Market may no longer desire to purchase JPY.
3. JPY is still weaker due to bad Japanese economic data and the outcome is unlikely to change soon.
4. Oil price may continue to increase due to middle east conflict.
5. US10Y and US30Y may continue to appreciate.
6. USD/JPY dips may be bought above 110.2.