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Aug 18 - 05:55 PM

USD/JPY - Decline Gains Momentum But Strong Supports Loom

By Krishna K  —  Aug 18 - 05:20 PM
  • USD/JPY opens 0.55% lower as negative dollar sentiment remains entrenched

  • Weighed down by positive risk sentiment & effects of Fed stimulus programs

  • Controversies over U.S. election process, virus aid package delay undermine

  • Trump floats idea that fraud could lead to re-do of Nov electionnL1N2FK13G

  • Focus shifts to minutes of July FOMC meeting due Wed for clues on policy

  • Strong support @ 105.28-30, 61.8% of 104.20-107.05 rise & Aug 6 pullback low

  • Break opens 104.90-105.00; resistance 105.60-65, 105.95-00

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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