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Sep 21 - 08:55 PM

USD/JPY - Sharp Rally From Low Suggests Interim Base In Place

By Krishna K  —  Sep 21 - 07:10 PM
  • USD/JPY opens 0.2% higher after strong rebound from 6-month low of 104.00

  • Bolstered by broad dollar strength on safe haven demand

  • Rising COVID-19 cases, sliding stock market, U.S. election uncertainty boost

  • Lightened trading volumes due to Japan Mon-Tues holiday exaggerates moves

  • JPY buying on crosses limits its losses versus USD; AUD/JPY down 0.8%

  • Fed speakers in focus this week, Powell to testify 3 times starting Tuesday

  • Resistance 105.10-20, above confirms low in place, will open 105.50, 105.80

  • Support 104.45-50, 104.00-10, 103.65-70; related nL2N2GI05G

  • For more click on FXBUZ


Asset class returns: Click here

Source:
Refinitiv IFR Research/Market Commentary

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