The USD/JPY jumped in response to the geopolitical escalation in the Middle East. The USD/JPY was last at levels of 147.82, the FX analysts of OCCBC, Frances Cheung and Christopher Wong point out.
Uncouraged risks
“Typically, geopolitical concerns should see an increase in safe refuge proxies such as JPY, but petroleum -related geopolitical problems may not show the typical relationship. The increase in oil prices can impact oil import invoices and yields of US Treasury bonds Economic. “
“As such, this exerts a temporary upward pressure on the USD/JPY. In addition, the long positions in JPY are significant in historical terms; they may be at risk of a greater dismantling if the weakness persists beyond key levels. The daily impulse is up 144.20/40 (23.6% FIBO, 21, 50 SMA). “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
