USD/JPY Outlook (4 December 2019)

Overall, USD/JPY is moving across. Recently, USD/JPY trended lower after U.S. President Trump said that it may be better to delay the trade deal with China after the 2020 election. Also, sources said that the U.S. is still going to impose tariffs on $156 billion of Chinese goods that will take effect on 15 December. As a result, USD/JPY broke the key level of 109 downwards as market participants go risk-off, turning to safe haven currencies like the Japanese yen.
USD/JPY’s next support level is at 108.000 and the next resistance level is at 109.400.
Look for selling opportunities of USD/JPY.