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Risk appetite triggered weaker Dollar – USD/JPY Market Outlook – 16/11/2020

SquaredFinancial

The dollar/yen tests critical support near 104.50 as risk remains to the downside. The greenback is heavy as markets anticipate further easing from the FED. In fact, analysts suggested that the Fed could even ease policy again prior to the December meeting considering the huge surge in COVID-19 infections. If the risk appetite remains the main market driver today, then we could see further weakness on the pair towards 104.

Support: 104.50 / 104
Resistance: 104.85 / 105.05

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/risk-appetite-triggered-weaker-dollar-usd-jpy-market-outlook-16-11-2020
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