AceTraderFx Jun 24: Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time: 24 Jun 2020 04:30GMT
USD/JPY - 106.50.. Dlr pares yesterday's loss in choppy Asian trading n falling on Tuesday from 107.21 (Europe) to a 6-week trough of 106.08 in New York, traders cited the sharp one-way drop possibly linked to Japan's Softbank currency hedging of its sales of $ 21 bln in value of its holdings in U.S. T-mobile.
As Tuesday's break of previous June's 106.58 low to 106.08 signals decline from June's 109.84 peak has resumed, price is en route to 105.99 (May low), then 105.15 next week. Therefore, trading the pair from short side is the way to go.
Offers are tipped at 106.60/70 with some stops touted above 106.75 while bids are noted at 106.30-20 with stops below 105.95.
U.S. will release some second-tier eco. data in New York morning, however, we have Chicago Fed President Evans n St. Louis Fed President scheduled to speak later today at 16:30GMT and 19:00GMT respectively.
Intra-Day Market Moving News and Views
Update Time: 24 Jun 2020 04:30GMT
USD/JPY - 106.50.. Dlr pares yesterday's loss in choppy Asian trading n falling on Tuesday from 107.21 (Europe) to a 6-week trough of 106.08 in New York, traders cited the sharp one-way drop possibly linked to Japan's Softbank currency hedging of its sales of $ 21 bln in value of its holdings in U.S. T-mobile.
As Tuesday's break of previous June's 106.58 low to 106.08 signals decline from June's 109.84 peak has resumed, price is en route to 105.99 (May low), then 105.15 next week. Therefore, trading the pair from short side is the way to go.
Offers are tipped at 106.60/70 with some stops touted above 106.75 while bids are noted at 106.30-20 with stops below 105.95.
U.S. will release some second-tier eco. data in New York morning, however, we have Chicago Fed President Evans n St. Louis Fed President scheduled to speak later today at 16:30GMT and 19:00GMT respectively.