USD/JPY testing critical resistance structure in Tokyo on strength in the US dollar and equities. US dollar could be due to a bearish correction, making advances through 105.50 tough. USD/JPY is currently trading at 105.48 between a range of 105.38 and 105.48, with the bulls in charge and pressuring the pair to test the bear’s commitments at the newly formed resistance. Overnight on Thursday, USD/JPY ranged between 105.20 and 105.53 while the US dollar was mixed against G10 currencies in the sessions. US stocks ended in the green ina choppy session on Wall Street with a mixed sentiment in regards to the economic recovery. US data mixed US data showed that jobless claims lifted to 870k although continuing claims also fell by less than expected. On the more positive front, US housing data was strong with New Home Sales for August smashing expectations. The data showed a rise of 4.8% MoN on top of a near 15% rise the previous month (a 1.2% fall was expected). This marked the fourth monthly rise, helped by record-low mortgage rates, but also, anecdotally, people reassessing where they’d prefer to live in a pandemic world. This takes the annualised pace of sales to 1m, the highest since 2007, analysts at Westpac explained. In other news, as investors await for updates with regards to further stimulus, US Treasury Secretary Mnuchin said in testimony that he hopes to restart negotiations on another fiscal relief bill with House Speaker Pelosi. I’m willing to sit down anytime for bipartisan legislation, let’s pass something quickly. USD/JPY technical analysis Meanwhile, the bulls are testing a critical resistance area market dup earlier this week in the surge in the value of the US dollar. USD/JPY Price Analysis: This could be the bull’s last dance in the 105, eyes on 103.50s It was called in the above analysis and there has been no real change to market nor the forecasting. At this juncture, the US dollar is playing out as expected: 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 We are in a real EM currency sell-off now – IIF FX Street 2 years USD/JPY testing critical resistance structure in Tokyo on strength in the US dollar and equities. US dollar could be due to a bearish correction, making advances through 105.50 tough. USD/JPY is currently trading at 105.48 between a range of 105.38 and 105.48, with the bulls in charge and pressuring the pair to test the bear's commitments at the newly formed resistance. Overnight on Thursday, USD/JPY ranged between 105.20 and 105.53 while the US dollar was mixed against G10 currencies in the sessions. US stocks ended in the green ina choppy session on Wall Street with a mixed sentiment in regards to the economic recovery. US data… 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.
