Sasha Singh
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Investors Again Shedding Dollar Against Yen Amid Geopolitical Tension in Ukraine

USDJPY : 4 Hour Chart

USDJPY today reversed the uptrend by breaking the rising support trend line of an ascending triangle on the 4 hour chart. The immediate support the pair would have found was at 102.21 but it was not able to hold up from this level and further declined to find the next support at 101.99. Today US dollar is down across the market and geopolitical tensions between Russia and Ukraine is pulling it further down. Whenever there is some uncertainty among the investors, they switch to safe havens like Gold and Japanese Yen.

USDJPY : Daily Chart

On the daily chart, we can see that the pair might either find support at 101.99 or if it continue to extend losses then at 101.73.Currently the pair is not giving any signal for future trend but i am expecting this pair to shed some more gains.