Intra-Day Market Moving News and views
Update Time: 21 July 2020 05:30GMT
USD/JPY - 107.17... The greenback went through a roller-coaster ride on Monday as despite rising from 107.02 in New Zealand to session highs at 107.53 in Asian morning, price pared its gains and retreated sharply to 107.04 in New York morning due to fall in US Treasury yields. The pair then rebounded to 107.33 in New York afternoon before weakening to 107.13 in Asia today.
Dollar's retreat from yesterday's 11-day high at 107.53 signals upmove from July's trough at 106.65 has made a temporary top there and consolidation with downside bias remains for weakness to 106.84, then 106.65 again, break would extend decline from 108.16 (July) to 106.40/50.
Offers are now seen at 107.30/40 with stops building up above there whilst initial bids are noted at 106.30/40.
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