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Anti-risk Yen rallies amid risk-off sentiment – USD/JPY Market Outlook – 28/10/2020

SquaredFinancial

The Dollar/Yen breaking lower as risk sentiment weakens on coronavirus concerns. Deeper losses towards 104 and possibly further look likely, as the 4-hour chart shows a bear flag breakdown. The Yen remains investors’ favorite anti-risk currency ahead of the US presidential election as political tensions mount in the country.

Support: 104 / 103.50
Resistance: 104.40 / 104.55

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/anti-risk-yen-rallies-amid-risk-off-sentiment-usd-jpy-market-outlook-28-10-2020
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