OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY: Retaining its positive stance

USD/JPY retains its bullish potential as market players seek for high-yielding assets. Valeria Bednarik, a Chief Analyst at FXStreet, examines the USD/JPY pair technically.

Key quotes

“The USD/JPY pair is retaining its positive stance, despite its latest retracement, as the improved perception of risk leaves the JPY outside speculative interest’s radar.” 

“In the 4-hour chart, the pair is pressuring a bullish 20 SMA, but so far unable to break below it.” 

“The Momentum indicator has turned sharply higher within neutral levels, while the RSI hovers around 57, following price. The daily low at 110.07 is the immediate support, while the pair could recover its bullish potential once above 110.90.”

 

Fed: USD makes situation different – ANZ

As the US steps up its fight against COVID-19, the Fed introduced unlimited QE and announced a USD300bn funding package to support households and busi
Read more Previous

BoT reduced further its benchmark rate – UOB

Economist at UOB Group Barnabas Gan gives his views on the recent rate cut by the Bank of Thailand (BoT). Key Quotes “The Bank of Thailand (BOT) opted
Read more Next
Start livechat