Key news updates for USD/JPY
USD/JPY Technical Analysis
109.73 (mentioned last week) is protecting the 110 level, which has psychological significance.
108.73 has provided resistance since early June. 108.26 is next.
107.17 has some breathing room in resistance, following losses by USD/JPY this week.
105.98 is an immediate support level.
104.65 has provided support since March.
The round number of 104 is next.
102.27 is the final support line for now.
USD/JPY Daily Chart
I remain neutral on USD/JPY
The yen climbed last week, although this was a case of broad dollar weakness rather than strength on the part of the yen. Investors have not flocked to the yen during the Corvid-19 crisis, despite the currency’s reputation as a safe-haven in times of trouble.
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