USD/JPY Price Forecast: US dollar drifts towards intraday low at 107.370.
The US dollar against the JPY has been on a trading range at 107.99 to 107.370 for the past seven trading sessions. The pair has bounced off at 107.370 for the third time at the Asian session and could continue up and retest 107.670 if it holds above 107.370.
The current short to the medium-term trend is still up; however, a drop in prices below 107.370 could see the pair fall to 107.194 and 106.893. There are no significant events scheduled for the Asian session; traders will need to keep an eye on the current major news which is the US-China tension and the Hong kong crisis
The US dollar against the JPY has been on a trading range at 107.99 to 107.370 for the past seven trading sessions. The pair has bounced off at 107.370 for the third time at the Asian session and could continue up and retest 107.670 if it holds above 107.370.
The current short to the medium-term trend is still up; however, a drop in prices below 107.370 could see the pair fall to 107.194 and 106.893. There are no significant events scheduled for the Asian session; traders will need to keep an eye on the current major news which is the US-China tension and the Hong kong crisis