[JPY] Fear Easing and Yen Falling 2020 0205

USD/JPY four-hour chart, source:FXDD.com

cf. [JPY] Rising Yen 2020 0130
cf. [JPY] Rising Expected after Correction 2020 0126

The currency pair USD/JPY is supported by the mild upward trend line built since last August and it succeeded to recover on the support line. The currency pair rises since Monday and is 109.43 as of 03:00(GMT). Rising pair means strong US dollar and falling Japanese Yen.

Currency pair is in correction, one-hour chart and four-hour chart in Asian session, but it is expected to keep its upward trend, weak Yen.

Forex market is moved by external news, the respiratory corona virus outbreak from Wuhan, China. As the fear of pandemic is soothed, market participants stopped risk-off and began to buy risky asset. And Aussie and dollar rose, but yen and Swiss Franc fell.

As the news of Chinese government's financial measures is reported, risky currencies rebounded on Tuesday. On the other hand Yen fell.

As you watch the chart and read this report, you can find that Gjallarhorn usually uses four-hour chart. Some traders may think the report is available in short term, another does in long term. The others will do in the mid term.

Gjallarhorn keeps long position of Euro FX in CME. It is still under the loss.

Gjallarhorn produces the report of risky currencies with Long bias now because it has Long Position of EUR.

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