Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with 109.73, which has held in resistance since the end of May. 109.35 is close by.
108.10 was a swing low in late May.
107.30 has held in resistance since the first week in August.
106.61 remains relevant. It starts the new trading week as a weak resistance line.
105.55 (mentioned last week) is the first line of support.
104.65 is next.
The round number of 104 was a key line in May 2008.
102.50 is the final support line for now.
USD/JPY Daily Chart
I am bearish on USD/JPY
The escalating feud between the U.S. and China is weighing on the Japanese economy, but investor risk appetite is low, which could boost the safe-haven yen. With stock markets showing sharp volatility due to fears of a recession in the U.S., there is upside for the Japanese currency.