 |
| USD/JPY four-hour chart, source:FXDD.com |
cf. [JPY] Steady Yen during Easter Holidays 2020 0411
cf. [JPY] Dollar's Rally against Yen 2020 0326
cf. [JPY] Falling Safe-Haven Asset Yen 2020 0320
cf. [JPY] Fear Easing and Yen Falling 2020 0205
The currency pair, USD/JPY which has moved in the channel, slips in the week. Japanese yen plunge in last month, but it retreats in the month.
Japanese yen has been resisted at price 105.3s against US dollar. And the price is tested as a resistance line, again. The currency pair keeps downward trend in one-hour chart, Thursday, it means strong yen and weak dollar.
The advance 1st quarter GDP was released -4.8 percent on Wednesday due to the pandemic. It shows the record-long US economic growth has been over. And Federal Open Market Committee, FOMC froze its benchmark interest rate band zero~0.25 percent, this day.
It led greenback fell. Though dollar falls and yen rises, it is anticipated yen to face the resistance line around 105.3x.
US unemployment claims is released on Thursday. It is forecasted 3.5 millions, which was 4.4 millions last week. It has hit more 6 millions, historical high.
As the fear of the pandemic covid-19 eases gradually, the market participants expect economy resumption.
The positive signals to financial market makes investors buy risky asset such as euro. And risk-off yen may fall against less risk-off dollar.
Gjallarhorn has a long position of futures, euro fx 2020-06 and it is under the loss.
------------------------
You can join telegram channel t.me/gjallarhorn_report .
If this report was helpful to you, please support it. The amount of your support is up to you.
PayPal kmuk001@gmail.com.
Thank you.
e-mail - kmuk001@gmail.com
Telegram - @morgenluft
Telegram broadcasting - t.me/gjallarhorn_report
https://www.facebook.com/Gjallarhorn.report/
https://www.facebook.com/heimdallr999/
http://morgenluft.blogspot.com
#Gjallarhorn, #JPY, #yen, #USDJPY
No comments:
Post a Comment