Japan has overtly blasted Trump for saying the country has intentionally devalued the yen, indicating the CurrencyShares Japanese Yen Trust (NYSEArca: FXY) could be poised for a resurgence against the dollar and UUP.

“But if the market perceives any dovish tilt in tone, then USD/JPY could quickly come in for a beating. The pair has not been able to retake the key 115.00 level for days and a failure to do so this week could point to a steeper correction toward the 110.00 figure,” according to ETF Daily News.

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