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May 20 - 06:12 PM

USD/JPY - 108.08 Rebuffs A 3Rd Time As Risk Rally Pauses

By Krishna K  —  May 19 - 06:05 PM
  • USD/JPY fails to hold gains above 108.00 as risk rally runs into p/taking

  • Fails 3rd time @ 108.08, 61.8% of April-May drop; 106.00-108.00 still rules

  • Doubts on efficacy of virus vaccine sours risk mood nL4N2D13W3

  • Decline limited on global economic recovery hopes as many lockdowns lifted

  • Japan plans scheme to inject capital into virus-hit small firms nL1N2D10F8

  • Resistance 108.00-08, 108.17, 108.31, support 107.40-50, 107.20-25


Source:
Refinitiv IFR Research/Market Commentary

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