The dollar is likely to remain weak until the US economy resumes stronger recovery. Resistance at 106.00 capped the USD/JPY rally after better than expected US payrolls provide respite for the greenback on Friday and remains strong, FXStreet’s analyst Joseph Trevisani reports. Key quotes “Markets will now have to decide if the July payrolls were the confirmation of a deepening slowdown, a normal deceleration from June’s torrid hiring pace or a one-month reflection of the already retiring Covid-19 surge in June and early July.” “If US statistics point to a resumption of the pace in May and June then the dollar will soon adopt that energy and rally. Absent that improvement the greenback will continue to sag even though the recovery in Japan is likely to be even weaker and more questionable”. “Resistance at 106 is the immediate consideration. If that holds there is limited support to 105.00 and little beneath. The area above 106, especially above 106.50 occupied trading for four months and is replete with resistance and then support lines.” 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 UK Jobs Preview: Feeble figures still furloughed? Another robust report may boost BOE-fueled rally Yohay Elam 2 years The dollar is likely to remain weak until the US economy resumes stronger recovery. Resistance at 106.00 capped the USD/JPY rally after better than expected US payrolls provide respite for the greenback on Friday and remains strong, FXStreet’s analyst Joseph Trevisani reports. Key quotes “Markets will now have to decide if the July payrolls were the confirmation of a deepening slowdown, a normal deceleration from June’s torrid hiring pace or a one-month reflection of the already retiring Covid-19 surge in June and early July.” “If US statistics point to a resumption of the pace in May and June then the… 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.
