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USD/JPY Struggling to Restore 104.75 Level

M. Ali 30 October, 2020 9:53 pm Forex Market, Market Update

The US Dollar (USD) is rebounding against the Japanese Yen (JPY) on Friday, after showing a negative performance earlier in the day.

The USD/JPY pair is marginally up for the day by 0.02% at 104.63, and has been moving throughout the day between 104.130 and 104.740, facing strong resistance at 104.750.

This comes as the demand for safe havens is on the rise amid uncertainty about the upcoming elections in the United States and concerns about a new wave of the Coronavirus pandemic.

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