USD / JPY hovers around three-year highs at 114.45

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The USD/JPY It hit its three-year high at 114.46 in mid-session on Friday. Since then his attempts to pull back have been contained around 114.00. This Monday, the pair remains firm around 114.35 / 45, very close to its peak since October 2018.

The pair follows the course of the dollar, whose firmness in the market is supported by the rise in 10-year US bond yields, which have reached close to 1.61% today, their highest level in six days. The DXY index that measures the greenback has strengthened to a five-day high at 94.17, and at time of writing it is trading above 94.12, gaining 0.18% on the day.

Risk aversion dominates the markets at the beginning of the week, favoring the dollar. Stock markets post losses, with the German DAX losing 0.51% and the French CAC 40 0.78%, although the Japanese Nikkei 225 closed today with a 1.66% gain. The Chinese indices, however, have ended the day with losses that have reached 2.19% in the case of the China A50. The lower than expected Chinese GDP and industrial production data have weighed on sentiment.

For the remainder of the day, the US will release its industrial production and capacity utilization figures for September. The monthly budget statement for September and net capital flows for August will be released later.

USD/JPY Niveles

With the pair trading at the time of writing above 114.40, gaining 0.18% daily, the next resistance appears at 114.55, ceiling of October 3, 2018. Higher up awaits the barrier 114.73, ceiling of November 6, 2017. Above, the target is in the psychological zone 115.00.

To the downside, the initial support is in the 113.80 / 114.00 zone, where the lows are today and Friday. Further down, the 113.20 / 30 region awaits, where the lows of October 13 and 14 are. To the south there is room to return to 113.00, the ground of October 12.

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