USD/JPY loses 105.00 on risk aversion as trade wars edge closer
|- Risk aversion is taking the top off the USD in the early Friday market.
- Trade war fears are rising and the Yen is gaining as traders balk at tariff threats.
The USD's
Equities and other risk assets are getting dragged down the charts as an all-out trade war between the US and China seems increasingly likely, with Trump and Beijing going shot-for-shot today with threats of targeted tariffs on key export materials from both countries, and the tension is being felt by market participants who have little else to trade this Friday with minimal data appearing on the macro calendar for today.
USD/JPY Levels to watch
With risk aversion spreading through the Asian markets, upside potential for the Greenback is limited, and intraday resistance is currently pricing in at the early session's high of 105.09, with further moves upwards set to be challenged by support-turned-resistance at 105.30, whi9le support is thinning at today's low of 104.64, with little support remaining beyond that as the pair trades into 14-month lows.
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