USD/JPY regains some upside traction following Tuesday’s pullback as selling pressure is expected to subside on a breakout of the 200-day SMA, Pablo Piovano from FXStreet apprises. Key quotes “Persistent concerns around the Chinese coronavirus and the impact on global growth keep investors’ sentiment well depressed and pave the way for a deeper retracement in the near-term, all on the back of firm demand for the safe havens.” “Following the Fed’s move on rates, further easing either by the Fed or other central banks cannot be ruled out, leaving the outlook for the pair somewhat mixed and with the next relevant support in the mid-106.00s.” “USD/JPY broke below the September low at 106.96 on Tuesday and in doing so it has facilitated a potential visit to the October 2019 low in the 106.50 region in the next weeks.” “On the upside, the pair needs to regain the 200-day SMA, today at 108.37, in order to allow for extra gains and open the door to a return to the 110.00 neighourhood. While below this area, occasional bullish attempt should be seen as selling opportunities. ” 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 RBA’s Debelle: Will take account of expected fiscal stimulus in future monetary policy decisions FX Street 2 years USD/JPY regains some upside traction following Tuesday’s pullback as selling pressure is expected to subside on a breakout of the 200-day SMA, Pablo Piovano from FXStreet apprises. Key quotes “Persistent concerns around the Chinese coronavirus and the impact on global growth keep investors’ sentiment well depressed and pave the way for a deeper retracement in the near-term, all on the back of firm demand for the safe havens.” “Following the Fed’s move on rates, further easing either by the Fed or other central banks cannot be ruled out, leaving the outlook for the pair somewhat mixed and with the next… 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.
