- USD/JPY rejected resistance level for the third time in 2 weeks
- Trump temporarily reopens government
Price Movement
Since last Friday, USD/JPY moved up by around 20pips before coming back down by around 50pips.
Trend
USD/JPY is on an uptrend.
Macro Background
No major economic data release.
Important Issue
U.S. president Donald Trump reopens government temporarily for 3 weeks (through 15th February). During this time, lawmakers will be working to reach a wider deal on immigration. President Trump also threatened to let funding lapse or declare a national emergency to bypass Congress If the immigration deal is not to the president’s liking.
Technical
Last Friday, USD/JPY tested and rejected the resistance level of 109.744 for the third time since 18th January.
Price Levels
Current Price: 109.386
Next Resistance: 109.744
Next Support: 108.734