Nov 30 2020
USD / JPY technical analysis - a test of the weakness of the retracement zone of 105,113 to 105,570
USD / JPY weakened on Friday as investors shifted proceeds from selling risky assets to safe-haven Japanese yen amid concerns about economic damage from spiraling COVID-19 cases in the US and Europe. The yen reached its highest level since Monday when it slumped after Pfizer announced it had developed an effective viral vaccine. At 09:25 GMT, the US dollar was trading against the Japanese yen at 105,128, up 0.004, or 0.00%. The yen is still down about 1.5% against the dollar this week, its biggest weekly decline in five months, and the weakest on most currency pairs. But rally from lows - along with weaker risk currencies - suggests a lot of caution.