USD/JPY recovers early Asian losses while bouncing off 104.43. Risk dwindles as virus woes combat hopes of further stimulus and geopolitical headlines. Markets in Tokyo are off for Respect-for-the-Aged Day, Chicago Fed National Activity Index, Fed Chair’s speech will be the key. USD/JPY seesaws around 104.45 during Monday’s Asian session. Even if Japan’s close and the recent uptick in risk barometers challenge the yen major’s immediate downside, bears refrain from stepping back from the seven-week low. Off in Tokyo joins a lights calendar… Other than the extended weekend for Japanese traders, the absence of any major data/events from the rest of the Asia-Pacific nations also hinders USD/JPY performance off-late. Even so, worsening coronavirus (COVID-19) conditions in the UK and Europe join the US-Iran tussle to probe the risk-tone sentiment. While the British Chief Medical Officer suggested the return of lockdowns, virus numbers are also rising from Spain and Germany. Elsewhere, America is likely to sanction the firms helping Iran build arms while Tehran laughed on the Trump administration’s failures at the United Nations (UN). On the contrary, the upbeat statement from Chinese President Xi Jinping and expectations of further stimulus for the Asian major under the presidency of Yoshihide Suga favor the market optimism. Not only from Japan but the UK and the US are also up for additional money supply. Against this backdrop, S&P 500 Futures gain 0.17% to 3,321 whereas stocks in Australia and New Zealand are mildly offered by the press time. Looking forward, the Asian session is likely to remain dull amid a lack of major catalysts. Though, Chicago Fed National Activity Index, expected 1.95 versus 1.18 prior, will precede Federal Reserve Chairman Jerome Powell’s speech to please the momentum traders. Technical analysis Only if the pair bounce back beyond the August month low of 105.10, it can witness the 106.00 again, else sellers will keep eyes on the July low near 104.20 for fresh entries. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next New Zealand alert level lowered to level 1 outside Auckland FX Street 2 years USD/JPY recovers early Asian losses while bouncing off 104.43. Risk dwindles as virus woes combat hopes of further stimulus and geopolitical headlines. Markets in Tokyo are off for Respect-for-the-Aged Day, Chicago Fed National Activity Index, Fed Chair’s speech will be the key. USD/JPY seesaws around 104.45 during Monday’s Asian session. Even if Japan’s close and the recent uptick in risk barometers challenge the yen major’s immediate downside, bears refrain from stepping back from the seven-week low. Off in Tokyo joins a lights calendar… Other than the extended weekend for Japanese traders, the absence of any major data/events from the rest… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
