- The yen weakened even despite a worse mood in the markets.
- USD / JPY returns above 103.50 against a stronger dollar.
He USD / JPY extended the bullish run and remains in positive territory despite the decline in equity markets and lower Treasury yields. The price climbed to 103.88, the highest level in two days and after the opening of the American session it remained close.
The yen is weak against the major currencies even though stocks are falling. Although in the last hours the actions have cut losses, the yen at all times maintained the downward bias against the dollar.
Nor did the drop in Treasury yields, which generally push the USD / JPY down, did not help. In any case, the key 10-year rate remains in a range, now closer to the bottom, but without showing a break from the current consolidation.
From a technical point of view, the return of USD / JPY over 103.50 / 60 is key for the dollar. In this way it recovers an important support, which is the 20-day moving average. A daily close above 104.00 would give the dollar strength to extend the bullish run.