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 close by.
108.70 was last tested in mid-June.
108.10 remained relevant last week. This line was a swing low in late May.
107.50 saw action late in the week. Currently, this line is a weak support level. 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 neutral on USD/JPY
The Fed is widely expected to lower rates at the policy meeting in late July, but the downward impact on the greenback will likely be limited, as markets have had plenty of time to price in the move. With tensions in the Persian Gulf still high, further confrontations between Iran and the U.S. and its allies could shake up the markets and boost the safe-haven Japanese yen.