Hello friends, USDJPY has been consolidating in the same area for the last 7-8 days. However, price action indicates weakness in USDJPY.
If the lower TL breaks, UJ could drop to 105.30 level.
A drop in the global indices as the economic outlooks worsens due to the COVID-19 pandemic could trigger a risk-off situation which will probably lead to a decline in USDJPY as the Japanese Yen strengthens.
If the lower TL breaks, UJ could drop to 105.30 level.
A drop in the global indices as the economic outlooks worsens due to the COVID-19 pandemic could trigger a risk-off situation which will probably lead to a decline in USDJPY as the Japanese Yen strengthens.