Key news updates for USD/JPY
USD/JPY Technical Analysis
We start with resistance at 111.62. 110.62 is next.
109.73, held in resistance since the end of May. 109.35 is close by.
108.10 is an immediate resistance line. It has weakened USD/JPY continues to gain ground.
107.30 is providing support.
106.61(mentioned last week) is next.
105.55 has held in support since late August.
104.65 has held firm since January. It is the final support line for now.
USD/JPY Daily Chart
I am bullish on USD/JPY
The dollar continues to gain ground, as investor apprehensions over tensions in the Persian Gulf haven’t translated into gains for the safe-haven Japanese yen. The new sales tax could see consumer spending quickly drop, which does not bode well for the economy or the Japanese currency.