The Japanese yen is among the strongest dollar’s rivals this Thursday, as USD/JPY trades around 104.70, pressuring daily lows and maintaining its bearish stance in the short-term. The July low at 104.18 is exposed, according to FXStreet’s Chief Analyst Valeria Bednarik. Key quotes “As widely expected, the BoJ left its monetary policy unchanged, while upgrading its economic assessment. Policymakers said that the economy has started to pick up ‘gradually,’ following the setback caused by the coronavirus pandemic. As usual, they reiterated that would add easing if necessary, although without hinting any action for the foreseeable future.” “The 4-hour chart shows that USD/JPY remains well below a bearish 20 SMA, which keeps accelerating south below the larger ones. Technical indicators, in the meantime, have stabilized well into negative territory, after correcting extreme oversold conditions.” “The USD/JPY pair has room to extend its decline towards 104.18, July low, should the pressure remain on the greenback.” 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 EUR/USD Price Analysis: Recent decline exposes the 1.1700 area FX Street 1 year The Japanese yen is among the strongest dollar’s rivals this Thursday, as USD/JPY trades around 104.70, pressuring daily lows and maintaining its bearish stance in the short-term. The July low at 104.18 is exposed, according to FXStreet’s Chief Analyst Valeria Bednarik. Key quotes “As widely expected, the BoJ left its monetary policy unchanged, while upgrading its economic assessment. Policymakers said that the economy has started to pick up ‘gradually,’ following the setback caused by the coronavirus pandemic. As usual, they reiterated that would add easing if necessary, although without hinting any action for the foreseeable future.” “The 4-hour chart shows… Top 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.
