Key news updates for USD/JPY
USD/JPY Technical Analysis
109.73 (mentioned last week) has held in resistance since the end of May. 109.35 is close by.
108.10 was a swing low in late May. 107.30 follows.
106.61 has some breathing room in resistance, following strong losses by USD/JPY last week.
105.55 was tested in support for the first time since January. It starts the week as a weak line.
104.65 is next.
The round number of 104 was a key line in May 2008.
102.50 is next.
101.20 has held in support since September 2016.
I am remain bearish on USD/JPY
An escalation in tensions between the U.S. and China has sent the yen sharply higher in August. With neither side ready to blink, the crisis could continue, which could propel the safe-haven yen even higher.