We still see USDJPY going up despite escalating tensions in the US/China trade war which saw the currency pair dropping towards the 104.8 support level. Whilst prices stay above and don't consolidate below the 104.8 support level we see USDJPY rising back towards the resistance level arounds 107. Encouragingly earlier today prices bounced of the 104.8 support level so we further upside going forward but expect volatility.