USD/JPY has resumed the leg lower in the second half of the week, trading below the 107.00 mark and closer to Wednesday’s YTD low at 106.84. Pablo Piovano, an analyst at FXStreet, sees chances to sell in occasional rallies. Key quotes “The resumption of the risk aversion in combination with weaker US yields is favouring the demand for the safe-haven JPY, always against the broader backdrop of unremitting concerns surrounding the COVID-19.” “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.” “Occasional rallies in USD/JPY are seen struggling in the 108.35/40 band, where is located the 200-day SMA. By the same token, further weakness is thus expected to materialize when below this key barrier.” “The next support of relevance emerges at the October 2019 low in the 106.50 zone ahead of 105.05. On the upside, the pair needs to regain the 200-day SMA, today at 108.37, in order to allow for extra gains.” 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 South Korea: Fiscal stimulus against the COVID-19 – UOB FX Street 3 years USD/JPY has resumed the leg lower in the second half of the week, trading below the 107.00 mark and closer to Wednesday’s YTD low at 106.84. Pablo Piovano, an analyst at FXStreet, sees chances to sell in occasional rallies. Key quotes “The resumption of the risk aversion in combination with weaker US yields is favouring the demand for the safe-haven JPY, always against the broader backdrop of unremitting concerns surrounding the COVID-19.” “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… 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.
