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After testing the lowest levels since 2016 in the 101.18 area earlier this week, USD/JPY turned up and returned above 105.00. On the H4, the pair formed a higher low and rose above the 50-period MA.
Japan announced the unscheduled purchase of 200 billion yen ($1.90 billion) in government debt. The news has weakened the yen.
USD/JPY may recover to 106.70 (50% Fibonacci retracement of the February-March decline). The next levels to watch on the upside will be at 107.65 and 108.00. Support lies at 105.40, 105.00, and 104.00.
BUY 106.20; TP 106.70; SL 106.00
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
How does the GBP/USD look like?
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
The USD/CAD price has been falling down since March 19. What are the reasons?
