After last week’s string of consolidation, USDJPY has broken out to the downside. It continues to tumble with no end in sight. However, as we approach the end of the year, we may see it settle near yearly lows.
Earlier this year in March 2020, USDJPY set an all-time low at 101.180. As the pair continues to descend through the 103.000 this week, there is potential for it to settle close to yearly lows.
March 2020 saw a string of global lockdowns due to the pandemic, causing the pair to gain traction. However, with multiple vaccines on the horizon and stability brought by Brexit on the table, the pair has begun its decline.