20:55 USD/JPY continues to trade near the maximum value since the end of May
This morning, USD/JPY continued yesterday's growth and reached a new high since the end of May (Y110. 20). Later, the pair declined slightly and is trading in a narrow range around yesterday's high and psychological level (Y110. 00). On the hourly chart, USD/JPY is confidently trading above the moving average MA (200) H1 (Y108.90), while on the four-hour chart, the situation is similar. It is also worth noting that the hourly chart has formed a bearish divergence on the MACD indicator.
⦁ Resistance levels are at: Y110.20-35, Y110.70, Y111.00
⦁ Support levels are at: Y109.40, Y108.90-109.00, Y108.20
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|remaining time till the new event being published|
- Canada adds 952,900 new jobs in June; unemployment rate decreases to 12.3 percent
- U.S. PPI unexpectedly declines in June
- IEA raises 2020 oil demand forecast
- Key events for next week: UK GDP; US, UK and New Zealand consumer price index; Bank of Japan, Bank of Canada and ECB interest rate decision, Australia unemployment rate