Dollar/yen continues to be marked by strong volatility. The pair rose 1.17%, erasing almost all of the losses from the previous week. Japan will release GDP for the third quarter. The forecast is for a gain of 4.4%, after a sharp decline in Q2 of -7.8%.
Key news updates for USD/JPY
USD/JPY Technical Analysis
107.92 is an important monthly resistance line.
106.66 has held in resistance since the end of August.
USD/JPY Daily Chart
I am neutral on USD/JPY
The Japanese yen posted strong gains last week, but it was more of a case of the dollar’s weakness rather than strength from the dollar. The Japanese economy is limping along, and strong numbers from the US could push the dollar higher.
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