- The dollar rebounded on Monday and advanced on almost all fronts.
- USD / JPY rises after three days of setbacks, rebounding from 113.40.
USD / JPY rose to 113.82 in the Asian session, but then lost steam and trimmed gains. The dollar was unable to firmly overcome the 113.80 barrier and is trading at 113.65. The dollar is among the best performing currencies on Monday, strengthened ahead of next week’s meeting of the Federal Reserve.
The DXY is rising and is trading at highs since Wednesday above 93.80. At the same time, Treasury bond yields are up slightly, with the 10-year benchmark at 1.65%. Wall Street futures point to a small-profit open, with the focus on the earnings presentation of tech companies.
Technical overview
The short-term bias in USD / JPY continues to point to the downside, although it is consolidating on Monday. The rebound faces strong resistance at 113.80, and a break from that level would enable an extension of the recovery.. A close above 114.00 would revert the bias in favor of the dominant uptrend direction.
In the opposite direction, 113.50 is the first support followed after last week’s bottom at 113.40, then 113.20.
Technical levels
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