USD/JPY Outlook (13 November 2019)

Overall, USD/JPY has been trending upwards. Recently, USD/JPY has been ranging across.
This morning, U.S. President Donald Trump said that if no deal was to be made between the U.S. and China, then the U.S. will substantially raise tariffs. As a result, the U.S. dollar weakened slightly as market participants turn to safe haven currencies like the Japanese yen.
Currently, USD/JPY is testing the key level of 109. USD/JPY next support level is at 108.200 and the next resistance level is at 110.500.
Look for short-term selling opportunities of the USD/JPY if it breaks the key level of 109.