If last week there was an uproar about balloons, this week there was also news about an unidentified flying object said to be hovering in the airspace of the United States (US) and China and has caused tension between the two countries.
However, the latest follow-up news is reported that US military officials believe the flying object is not from China.
Thus, the tension is seen to ease again and change the market sentiment towards risk-on again.
This is a factor in safe-haven currencies such as the Yen and the US dollar experiencing depreciation at the beginning of this week.
Because of that, the price movement on the chart of the EUR/JPY currency pair for example, has experienced a surge again.
On Monday's trading yesterday, price increases were displayed starting from the opening of the Asian session until the European and New York sessions. At the end of the New York session, a slight decline was seen again.
After last week the price fell testing the support zone at 140.00, the increase was shown again yesterday reaching a height of 142.300.
The upside is likely to continue to test the resistance at the 143.00 zone which was almost reached on last week's rise.
If the price manages to break through the resistance zone, the price increase will continue towards the next concentration level which is at 145.00.
However, in terms of a larger movement, the price is still moving in a horizontal zone.
A decline could happen again and will see the support zone at 140.00 be tested again like in previous weeks.
If the price manages to break through lower, the price is seen to go to the main support zone at 137,500 and record the latest 6-week low.
