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USD Bulls show resiliency in a risk-on environment – USD/JPY Market Outlook – 25/08/2020

SquaredFinancial

US-China trade optimism boosted the risk sentiment and lowered the haven demand for the greenback, after both sides saw “progress” on phase one trade deal. However, it’s interesting to mention that the dip have been quickly bought as the USD Bulls show resiliency in a risk-on environment. If the bullish momentum persists and the Dollar Index keeps grinding higher, then we could probably see the pair pushing higher towards 106.20 and 106.50 resistance levels.

Support: 105.90 / 105.45
Resistance: 106.20 / 106.50

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/usd-bulls-show-resiliency-in-a-risk-on-environment-usd-jpy-market-outlook-25-08-2020
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