Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.

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On Thursday, the Japanese yen increased due to new risk aversion in the general market in support of safe haven demands, while the U.S. dollar is still constant against a bucket of the other primary currency after recovery from two months lows.

Moreover, market sentiment disturbed overnight due to uncertainty in the U.S. and China trade war. The U.S. and China can reach a deal on the sidelines of the upcoming G-20 summit meeting in Japan. The dollar was down 0.2% to 108.28 per yen.

As you know, the risk aversion and falling stock markets are supporting the Japanese yen as usual. So this support can be very beneficial for yen buyers.

Daily Support and Resistance
S3 107.87
S2 108.24
S1 108.4
Pivot Point 108.6
R1 108.76
R2 108.96
R3 109.33

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