Key news updates for USD/JPY
USD/JPY Technical Analysis
111.69 was the high point of the yen rally in the first half of May. 111.15 follows.
110.40 (mentioned last week), is the next resistance line.
109.73 has held in resistance since the end of May.
109.35 is the next resistance line.
108.70 has some breathing room after sharp losses by USD/JPY late in the week.
108.10 was tested in resistance late in the week. This line was a swing low in late May.
107.50 has switched to a support role after gains by USD/JPY. It capped the pair in early April. 106.61 is next.
105.55 has held in support since early January.
104.65 is the final support level for now.
USD/JPY Daily Chart
I remain bearish on USD/JPY
Tensions in the Persian Gulf remain high, and any new developments could shake up the yen. The U.S. will release nonfarm payrolls at the end of the week, and traders should treat this event as a market-mover.