Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with resistance at 108.70 (mentioned last week).
108.10 is the next resistance line.
107.30 was breached for the first time since early October.
106.61 has switched to a support role.
105.55 is an immediate resistance line.
104.65 is providing support.
The round number of 104 was a key line in May 2008.
102.50 is the final support level.
USD/JPY Daily Chart
I am neutral on USD/JPY
The yen is making the most of its safe-haven status, as nervous investors are shunning risk due to the coronavirus outbreak. However, the virus is taking a toll on the Japanese economy, which could make the yen less attractive to investors.