Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with resistance at 111.69. 110.62 is next.
107.30 is providing support.
106.61 is next.
105.55 has some breathing room following strong gains by USD/JPY last week.
104.65 is the final support line for now.
USD/JPY Daily Chart
I am bearish on USD/JPY
The Japanese yen is a safe-haven asset, but investors were seeing all green last week, as the U.S. dollar enjoyed broad gains, including versus the yen. As well, the Japanese economy is dependent on trade with China, so the economic upheaval in China is weighing heavily on the Japanese economy.