Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with resistance at 111.62, which has held in resistance since April. 110.62 is next.
109.73 faced strong pressure in December, but USD/JPY failed to break above this line.
109.35 has switched to a resistance role after sharp losses by USD/JPY last week.
108.70 is next in resistance.
108.10 is fluid. Currently, it is just above the pair.
107.30 (mentioned last week) switched to support in early October.
106.61 is next.
105.55 has held in support since late August.
104.65 has held firm since January. It is the final support line for now.
USD/JPY Daily Chart
I am bearish on USD/JPY
It should be an interesting week, as the markets take stock of the U.S. airstrike which killed an Iranian general on Friday. If risk appetite falls, the safe-haven yen could be a big winner and continue its rally.