Intra-day news and views and data to be released today – USD/JPY

AceTrader Team AceTrader

Intra-Day Market Moving News and Views

Update Time: 15 July 2020 05:30GMT

USD/JPY - 107.25... The greenback went through a roller-coaster ride yesterday as despite dropping to session lows at 107.13 in Asia, price rose to an intra-day high at 107.43 at New York open due partly to cross-selling in jpy. However, the pair met renewed selling there and retreated to 107.16 near New York closing on usd's broad-based weakness.

Although dollar has retreated after yesterday's break above Monday's high at 107.31 to 107.43 and minor consolidation would be seen, as said move signals decline from July's peak at 108.16 has ended at 106.65 last Friday, upside bias remains. Bids are now seen at 107.10/20 with stops building up below there whilst initial offers are noted at 107.90/00.

The Bank of Japan is scheduled to announce its interest rate decision shortly (circa 03:00GMT) and although the central bank is widely expected to keep its rate unchanged, investors should pay attention to Governor Kuroda's press conference at 06:30GMT.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD faces next resistance near 1.1930

EUR/USD continues to build on its recovery in the latter part of Wednesday’s session, with upside momentum accelerating as the pair retargets the key 1.1900 barrier amid a further loss of traction in the US Dollar. Attention now shifts squarely to the US data docket, with labour market figures and the always influential CPI releases due on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.