USDJPY Daily Outlook 07-07-20 - On Monday the US stocks jumped following the holiday weekend, lifted by shares of everything from medical technology companies to banks. The German factory new orders were up 10.4% m/m. The UK saw a strong rebound in its construction output as the reopenings gathered pace in June. On a more tense note, Europe’s trade commissioner said the EU will stand firm against the US over trade disputes.

Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.

On Tuesday the most important risk event is the Reserve Bank of Australia’s interest rate decision. In the US we’ll also be tuning into some Fed members’ speeches during the New York session.



Today I’m looking at the USD/JPY pair which finally broke below the daily Ichimoku cloud with the future cloud turning bearish. While the pair still appears to be in a longer-term consolidation between 108 and 106, we sure are seeing a stronger bearish pressure now.

The losses could cap at 106 again as a trading idea for short-term traders. Will you be jumping on the bearish train this week? Head over to the comments section and let me know.

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