OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY: In recovery mode

USD/JPY in recovery mode could advance up to 106.70. Valeria Bednarik, Chief Analyst at FXStreet, takes a look at the pair from a technical perspective.

Key quotes 

“The USD/JPY pair is stable just below the 106.00 figure, finding support around the 38.2% retracement of its latest daily slump at around 105.35.” 

“The 4-hour chart suggests that the recovery may continue, as the pair is developing above a bullish 20 SMA, while technical indicators maintain their bullish slopes within positive levels.” 

“Beyond the daily high, the pair has room to extend its advance up to 106.70, the next Fibonacci resistance.”

“Support levels: 105.775 105.35 Resistance levels: 106.25 106.70”

Germany planning billions of euros in financial aid to help companies and employees affected by coronavirus

Citing sources with knowledge of the matter, DPA news agency reports that German Finance Minister Olaf Scholz and Economy Minister Peter Altmaier are
Read more Previous

BOJ may top up CP and corporate bond buying next week – Reuters

BOJ reportedly may top up purchases of commercial paper, corporate bonds at meeting next week, Reuters reports, citing sources familiar with the matte
Read more Next
Start livechat