FxGrow Daily Technical Analysis – 20th July, 2017
By FxGrow Research & Analysis Team
USD/JPY Testing 50 EMA, Awaiting U.S Unemployment Data
USD/JPY digested yesterday losses and surged 40 pips on Thursday's Asian session with 1.1217 high for today. Currently the pair is trading 112.10, hovering at 50 EMA at 112.05 preferring sideways trend and awaiting cautiously for further intake as U.S releases data on NY opening sessions.
BOJ, as expected kept rates at current minus 0.1%, pushing back inflation target for sixth time and keeping policy steady with a bit hawkish stance contaminating USD/JPY spikes. Kuroda, BOJ Gov. will cross wires shortly with expectations that answers will be consistent with earlier statement but still, traders has to decipher words in case Kuroda got market off guard.
On the other hand, the pair price action will undergo ...
For more in depth Research & Analysis please visit FxGrow.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.