Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with resistance at 111.69.
110.62 is next.
109.73 is protecting the 110 level, which has psychological significance.
108.70 (mentioned last week) is an immediate support level.
108.10 has switched to a support role after USD/JPY broke above it last week.
107.30 was tested throughout the week.
106.61 is next.
105.55 has held firm in support since mid-March.
104.65 is the final support line for now.
USD/JPY Daily Chart
I remain bullish on USD/JPY
The U.S. dollar has emerged as the primary safe-haven asset in the current crisis, as the yen has been forced to take a back seat. The greenback has performed fairly well despite some appalling job numbers, and the outlook for the dollar remains positive.