Intraday Forex Wednesday, September 23 (USDJPY, EURUSD, & etc.) The U.S. dollar held onto gains against major currencies on afternoon Asian trading.

Zulbahri_GB

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Hi everyone. This observation is made around 4:30 UTC today, with 15 minutes time frames. The Resistance and Support Line were constructed according to Fibonacci retrenchment. Any discussion is welcomed.

Asia’s stock markets struggled to emulate Wall Street’s rebound on Wednesday as persistent worries about the global economic recovery kept investors cautious.
The U.S. dollar held onto gains against major currencies on Wednesday, supported by positive U.S. economic data and concerns about a second wave of coronavirus infections in Europe and Britain.
Dollar index rose to 93.53 after Chicago Federal Reserve President on Tuesday mentioned the prospect of raising interest rates, challenging an earlier Fed’s narrative to not hike rates at any point in the foreseeable future.

I also does analysis for some other currencies. Read more on the website on TECHNICAL ANALYSIS and DAILY MARKET NEWS.

[USDJPY]
  • The Japanese yen weakened versus the greenback at 105.07 per dollar. The dollar rising for second day in a row.
  • In latest meeting, BOJ's Governor Kuroda says FX should move stably reflecting fundamentals. Kuroda also said that while the yen had strengthened recently, he did not discuss anything on exchange rates with PM Suga.
  • The U.S. dollar supported by positive U.S. economic data and concerns about a second wave of coronavirus infections in Europe and Britain.
  • A rally in stocks also curbed the safe-haven demand for the yen and boosted USD/JPY.
Important Levels to Watch for Today:
  • Resistance line of 105.272 and 105.548.
  • Support line of 104.377 and 104.100.
USDJPY.png



[EURUSD]
  • The dollar was quoted at $1.1678 per euro on Wednesday in Asia, touched more than 2 -months low against the dollar.
  • The dollar is expected to rise higher in short term as the coronavirus rattles sentiment in Europe, but uncertainty about U.S.’s presidential election means the dollar could be prone to more volatile swings.
  • Sentiment for the euro has slowly weakened as investors grow increasingly worried about surging coronavirus infections in countries like France and Spain, raising the risk of lockdowns.
  • The euro zone PMI data later today will be a key focus, with some analysts saying a strong PMI could take the common currency back versus the dollar.
Important Levels to Watch for:
  • Resistance line of 1.17723 and 1.18035.
  • Support line of 1.16714 and 1.16403.
EURUSD.png


For analysis of USDCHF, GBPUSD and other insight into the market, read more on the WEBSITE or click on TECHNICAL ANALYSIS and DAILY MARKET NEWS.
 
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