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

AceTrader Team AceTrader

Intra-Day Market Moving News and View

Update Time: 14 Jan 2021 05:30GMT

USD/JPY - 104.07... Despite falling to 103.53 in Asia yesterday, price rallied to session highs at 103.99 in Europe due partly to rise in U.S. Treasury yields before retreating to 103.76 in New York. The pair then jumped in Asian morning today and penetrated Wednesday's high to 104.19 on usd's broad-based strength due to reports that Biden's aid plan would be around 2 trillion usd (see report below).

Dollar's intra-day jump to 104.19 suggests pullback from Monday's near 4-week peak at 104.39 has ended at 103.53 yesterday and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove to 104.57/60. Bids are now seen at 103.90/00 and more below at 103.70/80 with stops building up below there whilst initial offers are noted at 104.70/80.

Pay attention to the release of U.S. jobless claims at 13:30GMT. Street forecasts is 780k, down from previous reading of 787k. Elsewhere, Federal Reserve Chairman Jerome Powell will participate at a virtual event at 17:30GMT.

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