Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with resistance at 110.40 (mentioned last week).
109.73 has held in resistance since the end of May. 109.35 is close by.
108.10 was a swing low in late May.
107.50 has some breathing room following strong losses by USD/JPY last week.
The pair broke through support at 106.61 late in the week. It is a weak line.
105.55 has held in support since early January.
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
An escalation in tensions between the U.S .and China sent the yen sharply higher, as nervous investors snapped up safe-haven assets. If the trade war the two super-economies worsens, the yen’s rally could continue.