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Yen getting stronger as US equities fall – USD/JPY Market Outlook – 17/09/2020

SquaredFinancial

The anti-risk Yen continues to draw bids against the US Dollar on the back of the risk-off mood in equities. Meanwhile, the Bank of Japan is having a monetary policy meeting today, and it is largely anticipated to maintain its current monetary policy unchanged, with the main rate at -0.10% and the focus on keeping the yield-curve under control. Therefore, the attention will remain on the US equity market. If the sell-off resumes today, then the Yen will probably attract more buyers pushing the pair lower possibly towards 104.20.

Support: 104.80 / 104.20
Resistance: 105.15/ 105.30

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/yen-getting-stronger-as-us-equities-fall-usd-jpy-market-outlook-17-09-2020
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