USDJPY 4H Chart

2015年7月7日

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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