Intra-day news and views and data to be released today – USD/JPY
Intra-Day Market Moving News and Views
Update Time: 20 Aug 2020 05:30GMT
USD/JPY - 106.12... The greenback swung wildly in hectic trading yesterday as despite rebounding strongly from Asian low at 105.11 to 105.60 ahead of European open, price retreated to 105.18 ahead of New York open. However, the pair then erased its losses and rallied to session highs at 106.14 near New York close on usd's broad-based rally after the rally of Fed's FOMC minutes, which hinted the central bank would consider extending the duration on its aggressive monetary policy. Price then found renewed buying at 105.98 in Australia today and gained to 106.21 before stabilising.
Dollar's intra-day break above overnight resistance at 106.14 suggests decline from August's near 3-week peak at 107.04 has made a temporary low at 105.11 yesterday and consolidation with upside bias remains for stronger retracement to 106.65.
Bids are now seen at 105.80/90 and more below at 105.60/70 with stops building up below there whilst initial offers are noted at 106.90/00.
Pay attention to the release of U.S. jobless claims at 12:30GMT. Street forecast is 925k vs previous reading of 963k. Elsewhere, the President of San Francisco Federal Reserve Mary Daly will speak at 17:00GMT.
Reprinted from FXStreet，the copyright all reserved by the original author.
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