Philip Miller Posted May 7, 2020 Share Posted May 7, 2020 Hello, can you please share your brief short-term assessment of USD/JPY? Quote Link to comment Share on other sites More sharing options...
0 Beniamin Thomas Posted May 8, 2020 Share Posted May 8, 2020 (edited) Hello Philip, thanks for the question. USD/JPY managed to break below the $107.00 horizontal support yesterday and hit the fresh 2020 low. As a result, the pair traded at the lowest levels since September last year. USD/JPY has managed to recover a portion of earlier losses. The price has now come back to retest the broken support at $106.45 resistance, now acting as a resistance. Looking lower, USD/JPY has big support at $104.50, which is a key level for the pair and expected to attract the price action since the risk is now to the downside. However, the sellers will have to first clear a 61.8% Fibonacci retracement at $105.20. Edited May 8, 2020 by Beniamin Thomas Quote Link to comment Share on other sites More sharing options...
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Philip Miller
Hello, can you please share your brief short-term assessment of USD/JPY?
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