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Risk appetite back on track after US lawmakers pass relief bill – USD/JPY Market Outlook – 22/12/2020

SquaredFinancial

The dollar/yen attempted to break above the 50-SMA after huge USD demand as investors ran to safety. However, that rush was short-lived, as equities were able to trim its losses as US policymakers vote on the much-awaited stimulus, and the new strain of Covid be cured with the current vaccine enrollment. Today, we might see the pair attempting to retest the 50-SMA as we await clearer direction.

Support: 103.20 / 102.50
Resistance: 103.70 / 104.20

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/risk-appetite-back-on-track-after-us-lawmakers-pass-relief-bill-usd-jpy-market-outlook-22-12-2020
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