USD/JPY Technicals – Safe Haven flows strengthening Yen

Hourly Chart

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Yen strengthened despite BOJ Minutes stating BOJ’s clear intention to continue its easing policy. Price dropped to Last Friday’s Low but have bounced back a little, trading back into L3/L4 region. A break of the low opens up L5 as a subsequent lower target, with the next level of support potentially around 81.5, which is the top on 16th Nov and acted as support on 20th Nov.

N225 Futures M5

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Nikkei Futures have broken below L3 after price failed to push above of H3, hinting at risk-off sentiment for Asian Session. European and US Futures are also trading lower, adding weight on USD/JPY prices.

 

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