- USD/JPY continues to slide on lower Treasury yields.
- Fed minutes suggest more moderate hikes, putting downward pressure on the dollar.
- Yen among the best performing coins.
The USD/JPY is falling for the third day in a row and aims to pass the October low. The pair reached as low as 138.00 in a week and then bounced slightly, paring losses, but remains under pressure in a context of general weakness for the dollar.
Should it hold below 138.50, the negative tone will remain intact, favoring a test of the October floor around 137.55/60. In the opposite direction, above 138.50 the next resistance is at 140.80, which if overcome will relieve the bearish pressure.
The dollar It loses ground across the market on Thursday, continuing the weakness that deepened after the release of the Federal Reserve minutes. The US central bank gave signs of a moderation in the rate of increases, which generated a rise in Treasury bonds and put downward pressure on the dollar.
The and in It was one of the most favored currencies after the minutes and rises on all fronts on Thursday. Not even the rise in the equity markets in Europe and Wall Street futures are gaining strength from the yen.
In the next few hours the volume of operations could be reduced since it will be a holiday in the US for Thanksgiving. On Friday there will be a limited day. In Japan, the Tokyo price index will be released on Friday.
technical levels
Source: Fx Street
I am a writer for World Stock Market. I have been working in finance for over 7-8 years, and I have experience with a variety of financial instruments. My work has taken me to Japan, China, Europe, and the United States. I speak Japanese and Chinese fluently.
