USDJPY under the bullish pressure today as the U.S. dollar climbed to a three-month peak on Tuesday in a flight-to-safety bid, as investors remained worried about a fast-spreading Delta coronavirus variant that could damage global growth. U.S. infections have risen sharply, especially in areas where vaccinations have lagged. At the same time, an unwinding in speculative positions is forcing a short squeeze in currency markets – driving the dollar upward. The safe-haven strengthening in the dollar is reasonable to expect at this moment – considering that global progress has been slow as compared to Q1 so now all valuations and high expectations for growth are being rightly questioned.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
USDJPY overview 23.07.2021
USDJPY rises on stronger dollar.
USDJPY under the bullish pressure today as the U.S. dollar climbed to a three-month peak on Tuesday in a flight-to-safety bid, as investors remained worried about a fast-spreading Delta coronavirus variant that could damage global growth. U.S. infections have risen sharply, especially in areas where vaccinations have lagged. At the same time, an unwinding in speculative positions is forcing a short squeeze in currency markets – driving the dollar upward. The safe-haven strengthening in the dollar is reasonable to expect at this moment – considering that global progress has been slow as compared to Q1 so now all valuations and high expectations for growth are being rightly questioned.
Expect buyers on downward corrections.
Next resistance to watch – 110.65
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
Open account
Latest Posts
Amega launches a brand new client area… and the crowd goes wild!
16 November 2023Amega reduces spreads up to 50%
25 September 2023Amega is going to the Traders Fair South Africa, 2023
14 September 2023Copycats: How social trading is changing the game.
18 July 2023BRENT 14.07.2023
14 July 2023Categories
Tags