Tickmill’s Investing Diva, USDJPY Daily Outlook 13-07-20

<p>USDJPY Daily Outlook 13-07-20 – Last week the USD got no love as improving economic data &amp; positive coronavirus therapy news suppresses demand for the safe haven.</p>
<p>Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the <a href="https://www.youtube.com/channel/UCygXlFW43dWBKnNty1s-W_g">Tickmill YouTube channel</a> and support us by liking and sharing this video with your forex trading friends.</p>
<p>On Friday Trump said the US-China relationship is ‘severely damaged,’ and that phase 2 trade deal is not a priority.</p>
<p>Meanwhile, U.S. Coronavirus Cases jumped on Sunday, hitting a record in Florida but New York reported zero deaths for the day for the first time since March.</p>
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<p>On Monday we’ll be looking at China’s trade balance and tuning into the Fed’s William’s speech.</p>
<p>Today I’m looking at the USD/JPY pair which is on its way to the 106.45 support level I identified last week which also falls on the 50% Fibonacci retracement.</p>
<p>This level has prevented the pair from dropping since March and if history is bound to repeat itself, we could see it turn into a challenge for the pair again.</p>
<p>If the pair is unable to break below this level, we could be in for yet another bullish trade towards 107 and 109 respectively. Do you think the 50% Fibonacci level will hold again?</p>
<p><strong>Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.</strong></p>
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<p>The post <a rel="nofollow" href="https://blog.tickmill.com/fund-analysis/usdjpy-daily-outlook-13-07-20/">Tickmill’s Investing Diva, USDJPY Daily Outlook 13-07-20</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>