2020-08-28 17:05
Market analysisUSD/JPY Outlook (28 August 2020)
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Market analysis：
Overall, USD/JPY is trending upwards. Recently, USD/JPY broke above the key level of 106 and moved into the resistance zone of 106.800.
Japanese Prime Minister Shinzo Abe will be holding a press conference today from 1600 (SGT). The Prime Minister is expected to announce new measures against COVID-19. He is also expected to address concerns about his health.
Today is the second day of the Jackson Hole Symposium. During this time, volatility is expected.
Currently, USD/JPY is testing the resistance zone of 106.800 and the next support zone is at 104.400.
With the risk-on rally sparked by the FOMC’s adoption of Average Inflation Targeting and the optimistic view of the U.S. economy, look for short-term buying opportunities of USD/JPY if it breaks the resistance zone of 106.800.
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USD/JPY Outlook (28 August 2020)
Singapore | 2020-08-28 17:05Overall, USD/JPY is trending upwards. Recently, USD/JPY broke above the key level of 106 and moved into the resistance zone of 106.800.
Japanese Prime Minister Shinzo Abe will be holding a press conference today from 1600 (SGT). The Prime Minister is expected to announce new measures against COVID-19. He is also expected to address concerns about his health.
Today is the second day of the Jackson Hole Symposium. During this time, volatility is expected.
Currently, USD/JPY is testing the resistance zone of 106.800 and the next support zone is at 104.400.
With the risk-on rally sparked by the FOMC’s adoption of Average Inflation Targeting and the optimistic view of the U.S. economy, look for short-term buying opportunities of USD/JPY if it breaks the resistance zone of 106.800.
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