Intra-day news and views and data to be released today – USD/JPY
|Intra-Day Market Moving News and Views
Update Time: 16 Sept 2020 05:30GMT
USD/JPY - 105.31... Although the greenback traded with a firm bias in Asia and edged up to session highs at 105.81 in European morning, price erased its gains and dropped to an intra-day low at 105.31 in New York morning before staging a recovery to 105.54 in New York afternoon. However, the pair met renewed selling there and fell to 105.26 in Asia today on active cross-buying in jpy.
Dollar's intra-day break below yesterday's low at 105.31 suggests consolidation with downside bias remains for weakness to support 105.21, below would bring re-test of August's bottom at 105.11 where break would extend decline from 107.04 to 104.50/60 later. Offers are now seen at 105.40/50 and more above at 105.60/70 with stops building up above there whilst initial bids are noted at 104.40/50.
Market focus is the Federal Reserve's rate decision at 18:00GMT. Although its widely expected that the central bank will keep its rate unchanged at 0.25%, one should pay attention to Chairman Jerome Powell's press conference at 18:30GMT, where he is likely to provide an insight on what further steps, if any, the bank would take to counter the country's stagnant growth.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.