Tickmill’s Investing Diva, USDJPY Daily Outlook 06-05-20

<p>USDJPY Daily Outlook – On Tuesday we found out that the U.S. trade deficit widened by almost 12% in March as the coronavirus pandemic grounded international flights, froze the global tourism industry and caused massive disruptions in the exchange of goods such as new cars and iPhones. Canada’s trade deficit also soared, and the UK services PMI, as well as the Swiss Consumer Prices, fell.</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>
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<p>On Wednesday, we don’t have much of high-risk nature on the economic calendar besides the continued COVID-19 updates and German Markit PMI.</p>
<p>Today I’m looking at the USD/JPY pair which finally broke below the daily Ichimoku cloud and the 50% Fibonacci retracement level of 106.45.</p>
<p>With this, and based on the Ichimoku indicator, we could first see a temporary correction towards 107, and then the door may get opened for medium-term drops towards 105 which is the 61% Fibonacci retracement level.</p>
<p>How low do you think the USD/JPY pair will go? Head over to the Comments section and let me know.</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/tickmills-investing-diva-usdjpy-daily-outlook-06-05-20/">Tickmill’s Investing Diva, USDJPY Daily Outlook 06-05-20</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>