Jul 11 2020

USD / JPY Price Analysis: No Signs of Failure Yet

 

The USD / JPY appears to be stagnating in a lateral range. In historical terms, if there was so much uncertainty in the world, the yen would be through the roof. In this new normal FX world, there seems to be a lot of support for JPY before 104.60 on the weekly chart. More recently, 106.00 is a very strong zone, and in the graph below, any movement in the zone meets solid purchases.