The rangebound mood in USD/JPY appears unchanged at least in the very near-term above 107.00, Pablo Piovano, an editor at FXStreet’s, briefs. The pair is trading at 107.15.
See: USD/JPY below 107.31/21 the risk turns lower – Credit Suisse
Key quotes
“The broader risk appetite trends (coronavirus, re-opening of the economy, US-China trade) plus domestic issues (BoJ’s easing, economic recession) are predicted to keep driving the sentiment around the pair for the time being.”
“Occasional bullish attempts should meet a solid barrier at the 108.30 zone, where sits the 200-day SMA; on the opposite side, May’s low in the 106.00 neighbourhood is expected to hold the downside for the time being.”
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