USD/JPY slips on fears of Kim Jong-un
Morning outlook - USD/JPY slips on fears of Kim Jong-un
- Over the last couple of weeks, movement of the USD/JPY currency pair was strongly affected by news coming from the Korean peninsula. The same thing happened today as well. In result of a successful test of a hydrogen bomb, the Yen started to actively recover against the Greenback.
- These growing fears drove the pair straight through a combination of the weekly and monthly PP around 109.75 as well as the 100- and 200-hour SMAs. As a result, now the rate has no any obstacles on its way up until the updated weekly S1 at 108.80.
- Consequently, the bears are expected to continue to dominate the market at least until the pair will encounter the above support.
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