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Jul 27 - 08:55 PM

USD/JPY - Tepid Bounce From Support Underscores Weakness

By Krishna K  —  Jul 27 - 07:15 PM
  • USD/JPY recovery from 105.00-20 strong support area quickly runs out of puff

  • Small drift higher to 105.45 from 105.11 NYK low met with fresh selling

  • Surge in virus cases in U.S. dents optimism on quick U.S. economic recovery

  • Doubts on efficacy of U.S. fiscal stimulus package weighs nL2N2EY0UV

  • Heightened dovish Fed expectations, rising U.S-China tensions stunt recovery

  • 105.20,61.8% of Mar USD rise, 105.15 Mar16 low, 105.00 psychological support

  • Initial target on break 104.50; resistance 105.65-70, 105.95-106.00, 106.20

  • For more click on FXBUZ


Sinking dollar lifts all boats: Click here

JPY: Click here

Source:
Refinitiv IFR Research/Market Commentary

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