USDJPY fell last week after rejection from a 3-month falling trendline but found support just above 105.
The yen has gained across all major peers amid growing uncertainties due to the pandemic and political turmoil in the US and Eurozone such as the US election and the Brexit talk.
However, the dollar rose too on safe-haven demand which therefore causing USDJPY to stuck in a range.
However, the price has reflected that the yen will eventually strengthen against the dollar ever since the pandemic broke out.
We expect the market to rebound a little higher towards the 105.6 - 105.8 region before it provides more downside movement.
The yen has gained across all major peers amid growing uncertainties due to the pandemic and political turmoil in the US and Eurozone such as the US election and the Brexit talk.
However, the dollar rose too on safe-haven demand which therefore causing USDJPY to stuck in a range.
However, the price has reflected that the yen will eventually strengthen against the dollar ever since the pandemic broke out.
We expect the market to rebound a little higher towards the 105.6 - 105.8 region before it provides more downside movement.
