Key news updates for USD/JPY
USD/JPY Technical Analysis
111.69 was the high point of the yen rally in the first half of May. 111.15 follows.
110.40 (mentioned last week), is the next resistance line.
109.73 has held in resistance since the end of May. 109.35 is close by.
108.70 was last tested in mid-June.
108.10 remained relevant last week. This line was a swing low in late May.
107.50 has switched to a support role after gains by USD/JPY. It capped the pair in early April. 106.61 is next.
105.55 has held in support since early January.
104.65 is the final support level for now.
USD/JPY Daily Chart
I remain bullish USD/JPY
An excellent U.S. nonfarm payroll report pushed the dollar higher late in the week, and stronger risk appetite could weigh on the yen. The U.S. economy is performing well, and if Jerome Powell dampens expectations of a rate cut in September, the dollar could continue to point upwards.