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.
105.55 (mentioned last week) has switched to resistance following strong losses by the pair late in the week. It is currently a weak resistance line.
104.65 is next.
The round number of 104 was a key line in May 2008. 102.50 follows.
101.51 is the final support line for now.
USD/JPY Daily Chart
I am bearish on USD/JPY
The trade war between the U.S. and China escalated significantly, and lower risk appetite could fuel more gains for the safe-haven yen. Fears of recession in the U.S. and the growing possibility of further rate cuts by the Fed in 2019 could boost the Japanese currency.