Development lacking a sense of direction with the dollar-yen and 106 yen in between.
- 2020-09-10
ECB is the main event today
(1) Dollar Yen Ichimoku Kinko Hyo It fell to 105.81 near the lower limit of the cloud, but recovered and recovered to the low 106 yen level.
(2) Risk appetite due to rising Western stocks, President Trump’s statement that the vaccine will be realized in October supports.
(3) Euro-dollar expanded to 1.1753 but rapidly expanded to 1.1831.
(4) UK rebounds due to the risk of withdrawal without an agreement, the retreat of additional mitigation observations by ECB.
(5) Dollar yen Psychological milestone 106 yen price movements that lack a sense of direction continue just across.
(6) The high price has been devalued for 5 consecutive business days and the high price is heavy.
Today’s forecast range: 105.50-106.40On the 7th (Wednesday) in the foreign exchange market, the dollar-yen recovered after falling.
(1) The risk-averse yen-buying mood against the backdrop of concerns about US-China conflict (US President Donald Trump emphasizes the stance of restricting economic relations with China),
(2) in front of the US FOMC (Federal Open Market Committee), next week Expectations for additional easing were weighed down, dropping to a low of 105.81 in the morning of European time. However, if it is blocked near the lower limit of the Ichimoku Equilibrium table cloud,
(3) risk-favourable yen selling pressure against the backdrop of rising US and European stocks (led by high-tech stocks), and It may be realized as early as October,
(4) Repurchase of the British pound following the receding risk of withdrawal without agreement from the UK (Pound sterling appreciation β dollar-yen appreciation),
(5) Euro repurchase following the retreat of additional easing observations by the ECB (euro-yen appreciation β dollar-yen appreciation),
(6) US The number of JOLT job offers in July (661.8 million as a result, an estimated 6.00 million, and the level before the economic blockade due to Corona’s brutal recovery) helped us to increase to a high of 106.28 over the US time.
Although the price has dropped slightly toward the close, the downside is firm, and at the time of writing this article (as of 6:50 am Cambodian time), it has been around 106.210.
Analyzed by: Mr. Naoto Arase,Independent Analyst