Key news updates for USD/JPY
USD/JPY Technical Analysis
112.73 was an important resistance line in October.
112.25 has held in resistance since December.
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 was tested in resistance early in the week.
108.10 was a swing low in late May.
107.50 capped the pair in early April.
106.61 is next.
105.55 is the final support level for now.
USD/JPY Daily Chart
I remain neutral on USD/JPY
It’s been a lazy June for the yen, which is showing little movement. Tensions in the Persian Gulf and the ongoing trade war between China and the U.S. have not sent investors running to the safe-haven yen. The U.S. economy remains strong, but the markets are prepared for a rate cut (or two) in the second half of the year.