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 remains an immediate resistance line.
108.10 remains relevant and has switched back to a support role.
107.30 has some breathing room in support. This line switched to support in early October, at the start of the most recent dollar rally.
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.
USD/JPY Daily Chart
I remain bullish on USD/JPY
The U.S. economy may be showing signs of a slowdown, but there hasn’t been much to attract investors to the safe-haven Japanese yen. With a strong possibility that a Brexit deal is finally at hand and trade talks continuing between the U.S. and China, risk apprehension remains low, for now.