Intra-day news and views and data to be released today – USD/JPY

AceTrader Team AceTrader

Intra-day market moving news and views

Update Time: 04 Mar 2021 05:30GMT

USD/JPY - 107.02.. Dlr maintains a firm undertone in relatively subdued Tokyo trading after extending recent upmove to a fresh 6-week high of 107.15 in New York morning, despite intra-day brief retreat to 105.85 on profit taking, gain to U.S. yields lifted price and the pair edged back to 107.10 in Australia.

Expect sideways swings to continue until European open n intra-day weakness in Asian stocks following o/n decline in the Dow should lead to safe-haven usd buying n gain towards next daily chart obj. at 107.53 is envisaged.
Bids have been raised to 106.85/75 with stop reported below 106.65 while offers are tipped at 107.10/15 with some stops above there.

The U.S. will release a slew of U.S. data, please refer to our EI page for details. Pay attention to comments by Fed Chair J. Powell who is scheduled to speak at a forum on the U.S. economy by Wall Street Journal Jobs Summit at 17:05GMT as traders will focus on his remarks on recent rise in U.S. yields as his dovish comments will send the buck lower n vice versa.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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