Singapore
2020-04-07 15:12
Market analysisUSD/JPY Outlook (07 April 2020)
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Market analysis:
Overall, USD/JPY is trending upwards. Recently, USD/JPY moved lower into the support level of 108.500.
Yesterday, Japan’s Prime Minister Shinzo Abe said that he plans to declare a state of emergency in Tokyo and six other prefectures due to the signs of widespread of the coronavirus across Japan. He also pledged to roll out an economic stimulus package totalling 108 trillion yen.
Currently, USD/JPY is testing the support level of 108.500 and the next resistance level is at 110.000.
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USD/JPY Outlook (07 April 2020)
Singapore | 2020-04-07 15:12
Overall, USD/JPY is trending upwards. Recently, USD/JPY moved lower into the support level of 108.500.
Yesterday, Japan’s Prime Minister Shinzo Abe said that he plans to declare a state of emergency in Tokyo and six other prefectures due to the signs of widespread of the coronavirus across Japan. He also pledged to roll out an economic stimulus package totalling 108 trillion yen.
Currently, USD/JPY is testing the support level of 108.500 and the next resistance level is at 110.000.
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