Next major support level for USD/JPY (108.50) and level to target if it pierces there

News

Via an overnight note from TD on the yen, continuing the ‘risk off’ theme I posted on here

Notes the move to yen in this bout of trade tension inspired risk off

  • yen as a haven asset
  • says such moves may be even more pronounced if situation worsens

Note continues:

  • have with a bullish bias for yen (partially due to repatriation flows into Japan)
  • major support at 108.50
  • and if that gives way … ‘a flush towards 105 should not be ruled out’

Adding this in … 108.50 does seem support – but major? Dunno.

ForexLive

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