Intra-Day Market Moving News and View
Update Time: 25 Nov 2020 05:30GMT
USD/JPY - 104.55... The greenback went through a roller-coaster ride on Tuesday. Despite dollar's one-tick break above Monday's 104.63 high to 104.64 at Asian open, price met renewed selling and fell to 104.15 in Europe before rising to a 1-week high of 104.75 in New York morning on rally in U.S. Treasury yields but only to weaken to 104.43 near the close on broad-based usd's weakness. The pair then recovers to 104.59 in Asian morning today.
Despite dollar's resumption of decline from November's 105.67 high to 103.66 last Wednesday, Monday's jump to 104.63 suggests temporary low is made and as price has risen after pullback to 104.15, consolidation with upside bias remains for gain to 105.13/15 before prospect of retreat.
Bids are noted at 104.50-45 with stops below 104.15 while offers are tipped at 105.00/10 with stops above there.
As the U.S. markets will be closed for Thanksgiving Day on Thursday, some U.S. economic data has been moved forward to today, please refer to our EI page for more details. Also, FOMC will release the minutes from its November 4-2, 2020 policy meeting at 19:00 GMT.
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