USDJPY to Test Support Zone

20. Mai 2020

1. Price is heading down to support zone between 107.42 & 107.31.

2. Price expected to bounce off this support zone and heading to resistance zone of 108.095.

21. Mai 2020

Kommentar

1. Price bounced off support zone successfully.

2. Price pulled back currently after bouncing off support, short term retracement.

22. Mai 2020

Trade geschlossen: Stop wurde erreicht

Stop reached at 107.620 due to volatility during FOMC member speaks and Fed's Powell says economic forecasts filled with uncertainty.

22. Mai 2020

Kommentar

Price is consolidating & moving sideways between 107.766 & 107.619.

Consumer confidence and new home sales are scheduled for release on Friday. Home sales should be subdued, but a nice uptick in confidence for May could drive USD/JPY above 108.