USD/JPY Outlook (15th August 2019)
U.S. Dollar/Japanese Yen FX:USDJPY
Overall, USD/JPY is trending downwards. Since yesterday, USD/JPY has reversed about half of the upward move caused by the U.S.-China trade war optimism. This strong downward move was triggered by the risk-off mentality of the market due to the inversion of the U.S. Treasury yield curve.
USD/JPY is currently bouncing off the key level of 105 upwards. Its next support level is at 104.800 and the next resistance level is at 107.000.