Home Forex News YEN Advanced to a One-Month High on Friday

YEN Advanced to a One-Month High on Friday

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The safe-haven yen advanced to a one-month high on Friday as deteriorating Sino-U.S. relations heightened investor anxiety, while a surging euro put the beleaguered dollar on track for its worst week in a month.

China has said it “must” retaliate after the U.S. ordered its Houston consulate to shut this week, amid allegations of spying. The editor of China’s Global Times said on Twitter that Beijing will announce countermeasures on Friday and ask one U.S. consulate to close.

While trading volumes were lightened by a public holiday in Japan, the palpable tensions were enough to rouse the yen from a range it has kept for weeks.

TREND : BEARISH

Time                                      :           24/07/2020

Pivot                                      :           106.69

Technical View                     :             SHORT BELOW 106.49

Target                                   :            106.29, 105.98, 105.78, 105.22

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