Trade hopes weigh on the yen

More hopeful signs on the prospects of a Sino-US trade deal is driving investors away from the safe-haven assets to the riskier ones. As the yen loses ground, the euro is attempting to make the pair break the 38.2 Fibonacci retracement that has so far successfully resisted the upward price moves. If it is broken, we will follow 120.20 and later 120.30.