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Aug 17 - 07:55 AM

USD/JPY - Gaining Traction After A Second 109.12 Print

By Peter Stoneham  —  Aug 17 - 05:38 AM
  • Even the safe haven yen is struggling to fight off COVID jitters

  • Risk sentiment sours on Afghan news and China regulation nL1N2PO05N

  • USD/JPY bases at 109.12 for the second session: modest gains seen

  • Sharp slide from 110.80 Aug 12 high was in need of adjustment

  • Dollar could carve out gains to the 100DMA, currently 109.68

  • There is a cloud twist on the horizon, Aug 30, but could fail to attract

  • As risk aversion rises the yen will likely come back on line

  • USD/JPY run to 108.73 key support remains the near-term risk

    For more click on FXBUZ







USD/JPY daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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