Яндекс.Метрика USD/JPY tracks lower as risk sentiment begins to sour ⋆ Technologies of the future for life!
Home / Forex Treiding / USD/JPY tracks lower as risk sentiment begins to sour

USD/JPY tracks lower as risk sentiment begins to sour


  • share

USD/JPY is down by almost 0.4% on the day currently


ForexLive

Suddenly, the risk on rally from overnight trading appears to be fizzling out before we even get into European trading. Asian equities opened with a bang following the gains in Wall St but have now surrendered all of it as most major indices trade at session lows. For good measure, the Hang Seng index is down by 0.5% currently while Chinese equities are also in the red.
The Nikkei is still 0.4% higher on the day but trades at the lows currently and with Treasury yields also sinking to the lows for the day, the Japanese yen is pulling ahead of the rest of the major bloc at the moment. US 10-year yields are down by 4.2 bps to 3.017% now as the crucial 3% threshold is within reach.
With yields threatening to fall back lower, the dollar remains under pressure on the day as well. This is seeing USD/JPY now threatening for a move towards the 200-hour MA (blue line) @ 113.11. A break below that and the near-term bias turns more bearish before further support is then seen at 113.00 and then 112.70.

About SkyNET

Leave a Reply

Your email address will not be published.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