USD/JPY Outlook (09 January 2020)

Overall, USD/JPY is moving across. Recently, USD/JPY trended higher and breaking the resistance level of 108.550 after the recent U.S.-Iran tension has been de-escalated when Iran said that they are not after war with the U.S., causing market participants to regain their risk-on mentality.
USD/JPY’s next support level is at 108.550 and the next resistance level is at 109.600.
Look for short-term buying opportunities of USD/JPY.