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Dollar/Yen consolidates as sentiment fluctuates between hope and fear – USD/JPY Market Outlook – 28/05/2020

SquaredFinancial

The Dollar/Yen remains in a consolidation for the 8th consecutive day as the Yen lost some ground yesterday on the back of the risk-on action in the Japanese equities but investors remain wary over the Hong Kong issue. The US Dollar met sellers ahead of the 108 figure, while the market´s sentiment fluctuated between hopes and fears as US-China tensions keep escalating. The bulls need to break above the 108 resistance level to gather further momentum to the upside.

Support: 107.35 / 107
Resistance: 108 / 108.35

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dollar-yen-consolidates-as-sentiment-fluctuates-between-hope-and-fear-usd-jpy-market-outlook-28-05-2020
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