Listen to the market mood for the USDJPY currency pair in the coming session:
The JPY is weak as large volumes of JPY selling took place yesterday as coronavirus fears subsided. Asian equity markets are broadly higher, and we are expecting more JPY weakness as long as equity markets remain positive today.
The USD has been supported this week on strong NY Fed manufacturing data, positive new home start data and a weakening EUR.
Therefore, expect USDJPY buyers today.
Risks to This Outlook
Any negative coronavirus news showing the virus has spread.