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 is an immediate resistance line. 109.35 is close by.
108.70 has switched to support role after gains by USD/JPY this week. 108.10 is next.
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 am bullish on USD/JPY
With the U.S. and China reaching a limited trade agreement, we could see a surge in risk appetite as global growth should improve. This could weigh on the safe-haven yen.