- The DXY falls 0.25% and erases Wednesday’s gains.
- USD / JPY escapes the correction of the dollar and continues to advance.
The USD / JPY is rising Thursday for the second day in a row and has just climbed to nearly a week high above 110.00, hitting 110.04. The pair’s advance occurs despite the general decline in the dollar.
The greenback is losing ground on Thursday, correcting after Wednesday’s rise that had been driven by the definitions of Jerome Powell, the chairman of the Federal Reserve, indicating that there could be a cut in the buying program soon.
Ehe yen’s decline has to do with the improvement in the mood of the markets and the stability of Treasury yields. Lthe 10-year rate rises slightly and is around 1.33%.
Relevant economic data will be released in the US on Thursday, including the weekly jobless claims report, the IHS Markit preliminary report for September on the manufacturing sector and the Kansas Fed Manufacturing Survey.
USD / JPY returns to 20-day average
The USD / JPY advance led to the price back above the 109.90 area where the 20-, 55- and 100-day averages converge. In case of holding above 110.00, the dollar would gain strength and a daily close above 110.30 would point to more rises in the face of the next sessions.
A return below 109.55 would ratify the range between 109.60 and 109.10. The 109.00 / 10 zone is a key support, which, if given, would enable more lows.
Technical levels
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