Key news updates for USD/JPY
Updates:
USD/JPY Technical Analysis
We start with resistance at 111.69.
110.62 is next.
Updates:
We start with resistance at 111.69.
110.62 is next.
109.73 has some breathing room following sharp losses by USD/JPY last week.
108.70 (mentioned last week) has switched to a resistance line.
108.10 is fluid, as USD/JPY ended the week just below this line.
107.30 is providing support.
106.61 has held in support since early October.
105.55 is the final support line for now.
USD/JPY Sentiment
I am neutral on USD/JPY
The yen cashed in last week, as its safe-haven status was a magnet for nervous investors. At the same time, the coronavirus outbreak continues to take a toll on the Japanese economy, which could make the yen less attractive to investors.
Safe trading!