Euro dropped after touching 1.20
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Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is now trading slightly below the Tenkan Sen. Any decisive movement to the north will push prices to exceed the Tenkan Sen level, confirming the bullish sentiment.
European Market View
- The Euro briefly rose above 1.20 against the greenback for the first time in more than two years. This is a rally of about 12% since March when coronavirus news weight in the market.
- Australia fell into its first recession in nearly 30 years as the nation battles a resurgence of Covid-19. Gross domestic product plunged 7% from the first three months of the year, the largest fall since records dating back to 1959.
- Turkey warned Greece against exceeding limits on military forces allowed on a tiny island that's become a flashpoint in their competing claims to energy resources in the Mediterranean Sea.