USD / JPY falls to nine-day lows, finds support above 113.50

- Advertisement -
  • The yen clings to daily gains due to deteriorating market sentiment.
  • US yields are down significantly, while US stocks are mixed.
  • USD / JPY remains in the weekly consolidation range.

The USD/JPY it is falling on Friday, extending the pullback from the multi-year high that hit Wednesday near 115.00. Hours ago, it bottomed at 113.58, the lowest level since November 10. It then bounced higher, but failed to regain 114.00.

The yen is among the top performers on Friday. It fell during the US session, but is still strongly supported by falling US yields and falling equity prices. The 10-year US yield stands at 1.52%, losing 4%. Investor sentiment is mixed in US markets, while European stocks are in the red. The warning tone following the announcement of a national lockdown in Austria weighed on risk appetite.

- Advertisement -

USD / JPY fell sharply from 114.50 and bottomed at 113.58. In the short term it has a negative tone. The weekly chart shows the current consolidation range intact, between 113.20 and 114.40. A close above the latest or below 113.20 should provide new signals.

The USD / JPY decline was limited thanks to a stronger dollar. Demand for the dollar also increased amid a race to safety. The DXY is trading at 95.80, gaining 0.31% on the day. It tested the yearly high and fell back.

- Advertisement -

Technical levels

.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Hot Topics

Related Articles