Яндекс.Метрика USD/JPY pushes higher as Italy gives risk an added boost on the day ⋆ Technologies of the future for life!
Home / Forex Treiding / USD/JPY pushes higher as Italy gives risk an added boost on the day

USD/JPY pushes higher as Italy gives risk an added boost on the day


  • share

Italy’s FTSE MIB is up by 2.4% on the day as bank stocks surge


ForexLive

In turn, that is helping to lift yen pairs even higher as risk continues to rally on the day. E-minis are currently up by almost 1% as well:

The added boost in risk comes as Italian bond yields are extending their fall following reports that Italy is looking to mull cutting the budget deficit target in an attempt to reconcile things with the European Commission.
That has seen yen pairs continue to push to the highs for the day as USD/JPY now trades at the highs of 113.35. Buyers have regained the near-term bullish bias earlier in the day after breaking above the 200-hour MA (blue line) and now looks towards resistance to come about around 113.60-70 with the 61.8 retracement level @ 113.44 to come before that.
It’s going to be a massive week for risk and today’s moves are very much just a teaser as we still have Fed chair Powell’s speech on Wednesday before the Trump-Xi summit to come on the weekend. After the secondary push higher here, it’s hard to see USD/JPY extending beyond 113.50 for now unless a fresh headline hits that changes things once again.
For any confirmation of a further run, it’s all going to come down to Wall St now. So, that’s where traders need to keep an eye on in trading today.

About SkyNET

Leave a Reply

Your email address will not be published. Required fields are marked *