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Market Focus: EURUSD – Japanese Yen

jeffriess
เมษายน 6, 2020
by Joseph Jeffriess, Market Analyst

Today’s video report

Today, we review today’s action on the JPY as sellers kicked in after news hit that Japan is due to announce a state of emergency as coronavirus infections continue to rise. The JPY has been pushed lower to the majors with USD, EUR and GBP having strong Asian session trade.

Risk overall has been positive, with gains seen to the USD, as well as the Yen.

We also take a closer look at price action on the daily EURUSD as Friday’s session showed some rejection from buyers after a week of selling. Buyers have been active today but have lagged gains seen to the JPY so far. We’re watching if the current buying can continue from Friday’s fightback, confirming that low as a new higher low.

Daily chart support and resistance to watch

D1 Support – 1.0780 – 1.0804

4H Resistance – 1.0836 – 1.0856

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