2020-08-20 16:43
Market analysisUSD/JPY Outlook (20 August 2020)
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Market analysis：
Overall, USD/JPY is ranging across. Recently, USD/JPY trended higher into the key level of 106 after the release of the dovish FOMC meeting minutes, causing a strong sell-off in the stock and bond markets, thus pushing the USD higher.
The Japanese Flash Manufacturing PMI data (Forecast: 45.0, Previous: 45.2 revised 42.6) will be released tomorrow at 0830 (SGT).
USD/JPY’s next support zone is at 104.400 and the next resistance zone is at 106.800.
Look for buying opportunities of USD/JPY.
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USD/JPY Outlook (20 August 2020)
Singapore | 2020-08-20 16:43Overall, USD/JPY is ranging across. Recently, USD/JPY trended higher into the key level of 106 after the release of the dovish FOMC meeting minutes, causing a strong sell-off in the stock and bond markets, thus pushing the USD higher.
The Japanese Flash Manufacturing PMI data (Forecast: 45.0, Previous: 45.2 revised 42.6) will be released tomorrow at 0830 (SGT).
USD/JPY’s next support zone is at 104.400 and the next resistance zone is at 106.800.
Look for buying opportunities of USD/JPY.
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