USDJPY Technical Analysis – We reached the intervention level ...Middle East

Fundamental OverviewThe USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be positive for risk sentiment for the time being.The JPY, on the other hand, continues to lose ground against the major currencies amid the general pickup in global growth and overall positive risk sentiment, even if we get bouts of risk-off here and there. We will likely need weak US growth data to see some sustained Yen strength although it might be short lived if it’s not enough to make the market

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