- The dollar is weak on Thursday in the market.
- USD/JPY falls for the second day in a row.
- Focus in the next few hours between data from the US and Ukraine.
The USD/JPY has been falling steadily since the American session on Thursday and recently hit a one-week low at 114.94. The pair then bounced back up to 115.20, before returning to the 115.00 level, where it is trading.
In the equity markets there is a certain caution that partially favors the yen against the dollar. In Europe, major stock markets are trading mixed, while Wall Street futures are down 0.45% on average.
Lower Treasury yields on Thursday contribute to USD/JPY weakness. Likewise, the 10-year rate is at 2.01%, still close to the recent peak. The minutes of the last known Fed meeting on Wednesday did not throw up any surprises.
With a view to the American session, the operators will closely follow the news on the border of Ukraine. In addition, in the US, the report on requests for unemployment benefits, the Philly Fed and figures for the real estate sector will be published. These may have some impact on the market.
The USD/JPY bearish bias is still present in the short term and a confirmation below 115.00 would enable further downside. The next support is at 114.75 followed by 114.50. If it manages to hold above 115.00, an upward correction could take place, finding resistance at 115.30, followed by 115.55.
Technical levels
Source: Fx Street
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