Chart of the day: USD/JPY

Chart of the DAY: Spot USD/JPY (04/06/2020) | alb.com

The USDJPY has broken out of a channel on the 2nd June 2020, with significant momentum and closed above the 200 moving average. Indicating the potential of a shift in the trading bias. With subsequent trading sessions continuing on this trajectory, this adds further confirmation of a bullish bias. Furthermore, with the upcoming ECB meeting scheduled today with regards further stimulus of €500 billion, the uncertainty on its implementation could play into US Dollar strength.

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