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In the early Asian session, the USD/JPY pair reacted to the negative news and tested the support at 110.90. However, it managed to recover a little bit. Up to now, the trading isn’t extensive. More trade wars news will pull the pair below the support. Until then USD/JPY has chances to trade within 110.90-111.40.
As we said above, the AUD is a victim of the trade wars. The AUD/JPY has significantly fallen on the news. The pair has tested below 50- and 100-day MAs. If the pair closes below them, the further fall will be more likely. The support is at 81.95 (50-hour MA).
Some news for the EUR.
The BOF governor and ECB member Mr. Villeroy said that the rate hike could take place at the earliest "through the summer of 2019". It will depend on an inflation outlook. Net asset purchases are anticipated to end in December.
The head of Italy’s 5 star movement Luigi Di Maio said that the government doesn’t think about a euro exit.
Positive signals for the euro, however, trade wars tensions and the economic data are stronger drivers.
That’s all for today! Follow market news with FBS!
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