USD / JPY accelerates decline and bankruptcy below 109.00

  • Yen gains momentum in the market due to a fall in the stock markets and a slight decrease in Treasury bond yields.
  • US data below expectations.

USD / JPY is falling after rising for three days in a row. The pair failed to hold above 109.25 and undertook a pullback that accelerated recently, after losing 109.00. The price hit a new low for the day at 108.78, the lowest level since Friday.

The Stocks on Wall Street have turned bearish in recent hours and Treasury yields are declining, both factors playing in favor of the bearish outlook for USD / JPY, as the yen strengthens.

The dollar presents mixed results in the market. The dollar index (DXY) is on neutral ground at 91.85 / 90. Data from the US had a mixed impact on the dollar. Both the retail sales report and the industrial production report showed numbers below expectations.

In addition to the data, the focus is on the Federal Reserve, which begins the FOMC meeting today. No changes in monetary policy are expected, but what the central bank follows on the rise in yields and members’ projections is expected to influence prices.

Technical levels

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