USD/JPY Outlook (1 November 2019)

Overall, USD/JPY is ranging across. Recently, USD/JPY trended downwards and broke the support level of 108.400 after news of Chinese officials casting doubts about reaching a comprehensive long-term trade deal with the U.S. was released.

Next Monday, Japanese banks will be closed for bank holiday. Expect lower trading volatility and volume in yen pairs.

Currently, USD/JPY is testing the key level of 108. Its next support level is at 106.800 and the next resistance level is at 108.400.