Amid the downtrend since mid-February, sellers have been holding on to a more bearish near-term bias in keeping price action below the key hourly moving averages. That momentum was broken somewhat yesterday but now we're starting to see buyers make a bit of a play.
Well, I'm not all too convinced just yet. For one, the bond market needs to play ball and 10-year Treasury yields are down to 4.24% now and contesting a potential break below its own 200-day moving average. All else being equal, that's a factor that should weigh on USD/JPY instead of underpin it.
So, while there is a spurt higher here in USD/JPY to start the session, it might not be one that stays the course. Besides the bond market, we also have to factor in month-end flows and the reaction to the US PCE price data later to get a better sense of the move we're seeing.
This article was written by Justin Low at www.forexlive.com.Hence then, the article about usd jpy shows some life in final stretch of the week was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( USD/JPY shows some life in final stretch of the week )
Also on site :