USDJPY Update: Rising Coronavirus Cases, Lack of Stimulus, US Election

USDJPY trajectory in the past 3 months SimpleFX WebTrader

The US dollar dropped on Tuesday amid concerns of the rising coronavirus cases in Europe and the US, and uncertainties surrounding the US election. How will it move against the Japanese yen in the coming weeks? On Monday, the USDJPY gained slightly amid the US, Russia, and France seeing a second wave of coronavirus infections. New protocols have been enforced. European countries including Belgium, Croatia, the Czech Republic, France, and Germany have also recently recorded their highest daily counts since March. Hopes for another US fiscal stimulus grow meek as Washington policymakers revealed very little clues about it happening in the near future. The US dollar will delight in a negative fiscal stimulus. Despite the previous gain, USDJPY dropped on Tuesday as bears took control of the market. The USDJPY pair is on a downtrend for quite a while now. Margin traders would do well to closely observe the large…

Read the original article here