Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with resistance at 112.25.
111.62 has held in resistance since April. 110.62 is next.
109.73 remains an immediate resistance line.
109.35 is under pressure in support. 108.70 is next.
108.10 is protecting the round number of 108.
107.30 (mentioned last week) switched to support in early October.
106.61 is next.
105.55 has held in support since late August. It is the final support level for now.
USD/JPY Daily Chart
I remain bullish on USD/JPY
Risk appetite remains strong, supported by the recent trade deal reached between the U.S. and China. This has boosted equity markets and could weigh on the safe-haven yen.