Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/JPY trades in the red, dollar loses ground across the board

USD/JPY chart - Trading View 

USD/JPY was trading 0.17% lower on the day at 104.39 at around 04:40 GMT, outlook bearish.

Rising coronavirus cases and the U.S. election uncertainties continued to dampen investor sentiment.

Global coronavirus cases rose by more than 500,000 for the first time on Wednesday, as France and Germany implemented fresh lockdowns.

The dollar index is currently trading 0.14% lower on the day at 93.82 as the greenback loses ground across the board.

S&P 500 futures are signaling continued risk aversion with a 0.73% drop. The major Asian stocks are also trading in the red. 

Technical studies support weakness in the pair, volatility is rising and momentum indicators are bearishly aligned.

On the data front, focus would be on the US Core Personal Consumption Expenditure, the Federal Reserve's preferred inflation measure for impetus. 

Scope for test of 104 levels and further grind lower likely on breach below 104 mark. Bearish invalidation only above daily cloud.
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.