Yen weakness over the last 2 weeks can be linked to low implied volatility (VIX), which is also reflected in other Yen cross pairs. US data continues to fall short of expectations, with the CPI and retail sales data disappointing on Friday, leading to the pullback seen off a daily resistance area.
Renewed North Korea missile tests over this weekend will likely cause UJ to gap on the open. I see daily resistance around 112.456 which may be a turning point before bullish continuation (A), HOWEVER I feel a fall to the 0.5 / 0.618 FIB level is the more likely to occur (B/C).
Will be very wary of buying this week due to the fundamentals
Renewed North Korea missile tests over this weekend will likely cause UJ to gap on the open. I see daily resistance around 112.456 which may be a turning point before bullish continuation (A), HOWEVER I feel a fall to the 0.5 / 0.618 FIB level is the more likely to occur (B/C).
Will be very wary of buying this week due to the fundamentals