Dollar/yen remains in calm waters, as the pair showed limited movement for a third successive week. In the upcoming week, Japanese data is limited to tier-2 releases. The US will release manufacturing and services PMIs late in the week.
Key news updates for USD/JPY
USD/JPY Technical Analysis
We start at the round number of 108, an important monthly resistance line.
107.29 (mentioned last week) is protecting the 107 level.
106.44 is next.
105.45 remains relevant. It ended the week as an immediate resistance line.
104.50 is next.
103.52 has held in support since March.
102.13 is the final support line for now.
USD/JPY Daily Chart
I am neutral on USD/JPY
The US dollar and Japanese yen are both safe-haven assets, which have failed to draw much interest from investors, who continue to show risk sentiment despite the Covid-19 pandemic.
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