[JPY] Steady Yen during Easter Holidays 2020 0411

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

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 plunged succeeded to rebound forming V pattern and was in the correction in the daily chart.

It seems that the currency pair returns to the ordinary channel, and it implies the pair rises in the short-and-mid term and dollar rises.

US dollar rose against Japanese Yen forming double-bottoms pattern in late March, but it didn't rise sufficiently and sidles in the four-hour chart.

The rising currency pair means greenback rises against safety-haven yen.

US unemployment claims hit 6.6 millions on Thursday. It was expected 5 millions and 6.8 millions in previous week. It was bad news to dollar and yen gained.

The health care problem of COVID-19 affects finance market as well as real economy.

First, the pandemic coronavirus should be controlled. Then the market will return to the normal state. As well as watching the chart and news, we have to be interested in the news about the pandemic.

After the announcement of the Olympic games in Tokyo's postponement to next year, the number of CoViD-19 surges. Japanese worry the epidemic very much and it hurts Japanese economy.

The postponement of Olympic games itself has given the large loss to Tokyo.

It burdens Japanese economy and currency yen.

Easter holidays began from Friday. Almost banks in Europe and America are closed during the holidays, and the price movement is expected to be steady.

Gjallarhorn has a long position of futures, euro fx 2020-06.

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