USD/JPY to face critical resistance around 104.50

The USD/JPY pair is trading around 104.10, retaining its bullish stance, as the dollar’s strength persists on stimulus hopes. The next stubborn resistance is seen at 104.50, as FXStreet’s Chief Analyst Valeria Bednarik notes.

See – USD/JPY to test key resistance at 104.59/77 – Credit Suisse

Key quotes

“The American dollar keeps advancing backed by a mixture of risk-aversion and speculation of more fiscal stimulus coming in the US.”

“A daily descendant trend line coming from March 2020 provides critical resistance in the 104.50 region.”