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Aug 28 - 03:55 AM

USD/JPY - USD/CNH Flushed Out, Takes Aim At 2020 Low As USD/JPY Tanks

By Ewen Chew  —  Aug 28 - 02:05 AM
  • USD/CNH fell to 6.8677, notching new 7-mth low; SSEC +1.2%

  • Below Jan trough of 6.8460 would mark new low for 2020

  • Next target would be 200-week moving average at 6.8125

  • Fresh USD selling pressure emerged with USD/JPY tanking

  • Triggered by reports of Japan PM Abe planning to resign nL4N2FU0RW

  • Bearish DXY cue may be confirmed sooner than expected nL1N2FU033

  • For more click on FXBUZ


CNH: Click here

CNHweekly: Click here

Source:
Refinitiv IFR Research/Market Commentary

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