The US dollar fell a bit during the early New York trading session before bouncing on Thursday and we continued to see a lot of back and forth against the Japanese yen.
The US dollar rallied a bit during the New York trading session on Wednesday, reaching towards the ¥107 level yet again.
Even though the US dollar had a strong couple of days against the Japanese yen, the Tuesday session was of course very negative.
The US dollar has initially tried to rally during the trading session on Thursday but then turned around at the ¥107 level to fall rather precipitously.
The USD / JPY pair did not celebrate much with its recent gains, reaching the 106.97 resistance level, as the decline returned to 105.64 support before settling around 105.95
The US dollar has fallen hard against the Japanese yen during the trading session on Wednesday and it looks like it’s ready to continue the downtrend.
Immediately after the US announcement of the postponement of further tariffs on Chinese products, which was scheduled for September 1
Ahead of the release of important and influential US inflation figures, USD / JPY continues its strongest losses, reaching the 105.04 support level and a seven-month low, before stabilizing around 105.27 at time of writing.
The US dollar has fallen during most of the trading session on Monday, testing the crucial and psychologically important ¥105 level.
The pace of USD/JPY losses stalled on the threshold of 105.00 psychological support, the pair's lowest price in seven months, and stabled around 105.45 support at the time of writing
The US dollar fell a bit during the trading session on Friday, reaching down below the ¥105.50 level.
The US dollar has fallen a bit during trading on Thursday a bit of a “risk off” type of situation.
On the USD / JPY daily chart below, it seems clear that the price of the pair is exposed to test new support levels in the event of moving around and below the 105 psychological support, the lowest in seven months.
The US dollar has gone back and forth during the trading session on Wednesday, as we continue to see a lot of volatility in this pair.
Investors continue to buy safe havens amid increasing global trade and geopolitical tensions, which will favor continued downward pressure on USD / JPY.