USD/JPY tested support

USD/JPY tested support

2020-05-14 • Updated

USD/JPY has returned below the 50-day MA as the market’s risk aversion increased. It seems that the market has formed an interim top. At the same time, the pair has reached a short-term support line from the start of May. The decline below 106.75 (50-day MA on the H4) will open the way down to 106.40. The pair needs to return above 107.05 to be able to target 107.55 once again. Comments of the Fed’s Chair Powell at 16:00 MT time will likely keep the volatility elevated.

Trade idea for USD/JPY

BUY 107.15; TP 107.55; SL 107.00

SELL 106.70; TP 106.40; SL 106.85




AUD/USD  is looking badly
AUD/USD is looking badly

AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.

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Technical analysis for EUR/USD
Technical analysis for EUR/USD

EUR/USD found support at 1.1845 and is currently trading just below the 61.8% Fibonacci retracement of the March-May advance at 1.1920.

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