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 relevant and is under strong pressure in resistance.
108.10 is providing support.
107.30 (mentioned last week) 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.
I remain bullish on USD/JPY
The Japanese economy remains weak, and risk appetite remains fairly strong. This means that the safe-haven yen is not particularly attractive to investors.