Yen: upside in favour on US/Japan tensions - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair plummeted to 119.10 this Monday, with the Japanese yen fueled by growing tensions between the US and Japan.

Key Quotes:

"The USD/JPY pair plummeted to 119.10 this Monday, with the Japanese yen fueled by growing tensions between the US and Japan in regards of US and Japan exchange rate policies, as discussed during the weekend G7 meeting. The poor performance of worldwide stocks, also spurred demand for the safe-haven currency, which seems now poised to resume its bearish trend."

"The pair retreated from a major resistance level, the 110.60 price zone tested last Friday, which adds to the bearish case."