USDJPY 4H Chart

7 ביולי 2015

Very brief observation on the USDJPY chart. We have been seeing continued lower lows and lower highs on the USDJPY since early June's high of 125.83, with a key support level being found at 122.45. It would be very interesting to see if longer term, we see a retest of the lower trendline. Fundamentals to bear in mind here could potentially be to ask the extent to which a US rate hike is priced in and possibly the extent to which USDJPY is considered a safe haven, with currency pressures coming from the weak Yen and the possibility of China joining the global currency war (a great article of which can be read here - zerohedge.com/news/2015-06-02/albert-edwards-yen-collapse-will-lead-new-round-currency-turmoil-deflation-us-and-eu).

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