Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with resistance at 111.62, which was last active in April. 110.62 is next.
109.73 has held in resistance since the end of May. 109.35 is close by.
108.70 has weakened and is an immediate resistance line.
108.10 switched to a resistance role late in the week, after USD/JPY posted gains.
107.30 has some breathing room in support.
106.61 is next.
105.55 has held in support since late August.
104.65 was last tested in January. It is the final support line for now.
I am bullish on USD/JPY
Since late August, the U.S dollar has sustained only one losing week against the yen. This shows a lack of interest in the Japanese currency, despite the slowdown in the U.S. Still, any unexpected geopolitical developments could restore the attractiveness of the safe-haven yen.