fbpx
USDJPY

USD/JPY – Quietly Slip sliding Away, BOJ Quietly on The Lookout

July 29, 2020

The Dollar slid further against the Japanese Yen to finish in late New York at 105.10 (105.38 yesterday) after trading to an early March low at 104.956. USD/JPY reversed late last week and has played catch-up with the Dollar’s fall against the other currencies. The BOJ is watching current levels from the sidelines with bearish sentiment growing on the USD/JPY pair. Any large downside moves could see BOJ officials intervene verbally. Overnight the Dollar rallied against most Asian and EM currencies and the combination of a strong Yen and weak Asians will be of concern to BOJ officials should this trend continue.

USDJPY H1 Chart - IG Daily FX - 29 July 2020
USD/JPY H1 Chart – IG Daily FX – 29 July 2020

USD/JPY has immediate support at 104.90 followed by 104.60. Immediate resistance can be found at 105.40 and 105.70 (overnight high traded was 105.686). Look for a likely trading range of 104.90-105.90. Prefer to buy dips.

Is this article Helpful?

Total Views: 29
 

Sign up to My Spread

EURUSD

EUR/USD Trades Dovish Today Falling below the 1.18 handle

EUR/USD: The pair is trading with clear dovish bias today as pair fell below 1.18 handle on USD rebound. But positive EU area macro data helped prevent decline below the …

Most Viewed Articles

Most Popular Articles

Technical Analysis

EUR/USD Trades Dovish Today Falling below the 1.18 handle

EUR/USD: The pair is trading with clear dovish bias today as pair fell below 1.18 handle on USD rebound. But positive EU area macro data helped prevent decline below the …

The Daily Fix

Latest Market Commentary

USD/CAD: The Pair is Trading with Clear Positive Bias

USD/CAD: The pair is trading with clear positive bias but still remains below 1.34 mark for now. USD rebound in later European market hours failed to trigger a breakout rally, …

Popular Articles about Trading

No Result found