The US dollar has initially fallen during the trading session on Thursday, to reach down towards the crucial ¥105 level.
Today is an important day strongly influencing the global financial markets in general, and the forex currency market in particular.
The US dollar has gone back and forth during the trading session on Wednesday as we continue to see a lot of inconsistencies as to where risk appetite may go.
More restrictions from countries around the world to contain a second massive wave of the Coronavirus spread have increased investors' appetite towards safe havens
The US dollar initially tried to rally during the trading session on Tuesday but fell again, to reach down towards the ¥104.50 level.
Despite the USD strength against the rest of other major currencies, it remained under downward pressure against the Japanese yen.
The US dollar rallied a bit during the trading session on Monday to test the ¥105 level, before pulling back just a bit.
Last week’s transactions were harsh for the USD/JPY, as the pair collapsed towards the 104.34 support, the lowest level for more than a year
The US dollar has gone back and forth during the trading session on Friday as we closed out the week.
The US dollar rallied a bit during the trading session on Thursday, as it looks like we are going to go looking towards the ¥105 level.
In recent USD/JPY technical analysis, we noted that the limited and narrow movement within price limits for several trading sessions in a row heralds an upcoming strong move.
The US dollar got hammered during the trading session on Wednesday, slicing through the ¥105 level like it was not even there.
The pressure on the US dollar has returned again, and therefore it has retreated against the rest of other major currencies.
The US dollar rallied a bit during the trading session on Tuesday, reaching towards the 50 day EMA
For three trading sessions in a row, the USD/JPY has been moving in a narrow range between the 105.18 support and the 105.60 resistance, where it is stable around at the time of writing.