Tickmill’s Investing Diva, USDJPY Daily Outlook 10-06-20

<p>USDJPY Daily Outlook – On Tuesday we found out the Eurozone GDP was down by 3.6% and employment down by 0.2% in the first quarter of 2020 and Australia’s consumer sentiment rebounded to pre-pandemic levels.</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 Wednesday we’ll be eying key economic data out of the US including its inflation rate as well as the all-important FOMC rate decision.</p>
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<p>Today I’m looking at the USD/JPY pair which is completing its pullback towards the upper band of the daily Ichimoku cloud after breaking above it last week. As of Wednesday’s early Asian session, the pair continued to test the 38% Fibonacci retracement level of 107.64. Depending on the US economic data on Wednesday, we could see a relief especially since the future cloud appears to turn slightly bullish. The next resistance level if set at 109.20.</p>
<p>Do you think the bears will give up their sentiment this week? 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-daily-usdjpy-outlook-10-06-20/">Tickmill’s Investing Diva, USDJPY Daily Outlook 10-06-20</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>